NABL

Members of the Securities and Exchange Commission on Thursday addressed confusion among issuers, broker-dealers and investors regarding disclosure.

The Internal Revenue Service has told bond attorneys that the law doesn’t explicitly say that veterans are a special needs population under the rules for the tax-exemption for multifamily private activity bonds.

Massachusetts Democrat Richard Neal, friendly to the muni market, is likely to chair the critical Ways and Means Committee.

The IRS announcement of an advisory committee shuffle has some lawyers nervous.

The memo appears to respond to a March 29 written request by the National Association of Bond Lawyers to Christie Jacobs, director of the IRS Indian Tribal Governments/Tax Exempt Bonds Office to clarify the new law.

The pilot program began in May, but was not officially announced by the IRS until last week.

A muni advisor facing an enforcement action could use a Supreme Court decision on gambling as a defense, a bond lawyer says.

SEC and MSRB officials responded to the concerns and frustrations of bond lawyers who were meeting in Chicago.

Incoming NABL president Dee Wisor wants the group to be more active in Washington.

The top executives of FINRA, the MSRB, and some industry groups received total compensation of more than $1 million, The Bond Buyer’s latest survey of compensation levels at 23 municipal market-related groups shows.

Congress could pass legislation authorizing advance refundings and liberalizing private activity bond restrictions to aid in disaster recovery, NABL said.

Bond lawyers will recognize the late Jim Lebenthal and Lewis Horne with awards next month, as well as Virginia "Gigi" Benjamin.

As the dust settles on the SEC's 15c2-12 announcement, questions loom about how difficult it will be to implement.

The SEC's Investor Advisory Committee's vice chairman is Elisse Walter, the former chairman and commissioner of the SEC who was most responsible for the commission's 2012 Report on the Municipal Securities Markets that suggested some of these muni reforms.

The revenue procedure implements a proposal in President Trump's infrastructure plan that will help facilitate public-private partnership arrangements.

NABL favors shortening to seven from 14 days the advance notice requirement for a public hearing about the issuance of PABs.

Analysts have noticed a definite hesitance of issuers to talk to them one-on-one and blame the MSRB's market advisory warning issuers against revealing material information to select investors.

The 29% tax exposure rate is up for a readjustment because the new tax bill slashed the corporate tax rate to 21% from 35% and also lowered individual tax rates.

John Cross, the Treasury Department's associate tax legislative counsel, said the existing tax rules are clear on advance refundings of taxable debt.

The plan would expand flexibility and broaden the uses of tax-exempt private activity bonds.