SEC

The Securities and Exchange Commission has charged Texas' Crosby Independent School District and two individuals in connection with the school district’s 2017 fiscal year financial statements.

SIFMA had argued that the SEC's temporary exemption order for municipal advisors was arbitrary and capricious.

The defendants believe the charges are lacking on numerous levels while the SEC argued that fee-splitting is a clear and known rule violation.

Price has deep experience at the SEC, and Abonamah was once a top presence in the muni office.

Industry advocacy groups want uniform rules that enhance clarity and common understanding without adding complexity or liability.

Acting director for the SEC Office of Municipal Securities Ernesto Lanza spoke about issuer disclosure and Rule 15c2-12, the Commission’s relationship with the MSRB and its efforts improving market transparency.

Todd Cipperman, founding principal of Cipperman Compliance Services, talks with Chip Barnett about compliance and disclosure and regulation by the federal government in 2022. (42 minutes)

Unregistered municipal advisor activity and breaches of fiduciary duty remain priorities.

The Securities and Exchange Commission has proposed amendments to its money market fund rules, which it has tinkered with repeatedly since the Great Recession.

The defendants are raising questions about due process and the definition of fee-splitting arrangements.