Organization Root Tag

Regulators indicated they may prefer the use of Financial Instrument Global Identifiers for securities.

The city's pensions funds for police officers, fire fighters, teachers, civil employees and school personnel, with a combined $274 billion in assets, returned 10% in the year through June, beating their 7% target, according to a news release Thursday from city Comptroller Brad Lander.

"The Fed remains data dependent as always, but it now appears that the 'more good data' bar is not as high as it was before, particularly with labor market developments becoming more important," said Michael Gregory, deputy chief economist at BMO Economics.

The mayor and controller debated the causes for the rating outlook revision to negative from stable ahead of a July city bond sale.

Riedl First Securities Company of Kansas has been fined $15,000 by FINRA for charging unfair prices, violating MSRB Rule G-30 on fair pricing and MSRB Rule G-27 on supervision.

Fitch upgraded Chicago's issuer default rating and GO debt rating to A-minus from BBB-plus and the city's sales tax securitization bonds to AAA from AA-plus.

Yields may move lower after the Federal Reserve "communicates its goals to ease policy in coming meetings," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.

Economists expect the FOMC to hold rates, although some say there's a case to be made for a July cut, with Fed Chair Powell setting the table for September.

The Jeffrey Matthews Financial Group has been charged $110,000 for charging unfair prices on 86 municipal bond transactions a week after being dinged for Reg BI violations.

The city will return to the market two weeks after closing its Transitional Finance Authority's biggest-ever deal.

The acquisition comes as the Philadelphia-based firm has been in growth mode.

During its final quarterly meeting for the FY 2024 fiscal year, the Municipal Securities Rulemaking Board elected a new chair and vice chair, and approved a $48.8 million budget for the upcoming year.

New York lawmakers are helping a coalition of legal experts, transit riders, and environmental and disability advocates sue the governor for stopping congestion pricing.

In May, a bipartisan group of lawmakers sent a letter to the federal agencies responsible for the FDTA rulemaking, urging them to stick to the schedule spelled out in the law.

Philadelphia-based Janney Montgomery Scott has been fined by the Financial Industry Regulatory Authority for reporting inaccurate times of trade on 391 municipal securities transactions.

The Texas Water Development Board expects to sell up to $1.8 billion of tax-exempt and taxable bonds in September.

The judges will take written statements to decide whether to rehear the case, although petitions for rehearing are generally rejected, one observer noted.

The Jeffrey Matthews Financial Group has been fined by FINRA for failing to achieve compliance with Regulation Best Interest.

Both ratings agencies cited the health system's improved liquidity in recent years.

The board's next quarterly meeting, scheduled for July 24-25, will include a review of market regulations, structure, and transparency issues .