SEC

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.

"The vast majority of muni issuers are trying to do the right thing,” Zehner said. “The vast majority of underwriters and municipal advisors are trying to do the right thing.”

Recommending Libor-linked securities triggers important disclosure and fiduciary obligations.

The Municipal Securities Rulemaking Board is seeking comment on environmental, social and governance factors practices in the municipal securities market.

Following the news that Rebecca Olsen, former director of the Office of Municipal Securities has moved to deputy chief in place of Mark Zehner, the Securities and Exchange Commission has named Ernesto Lanza as acting director.

Mark Zehner has retired from his position as deputy chief of the SEC's public finance abuse unit, a position that Rebecca Olsen, former director of the Office of Municipal Securities, has taken over.

The change of plea hearing is set for Thursday in a federal court in Mississippi.

The Securities and Exchange Commission has charged an Illinois-based broker with defrauding three investors out of $800,000 by luring them into investing in nonexistent tax-exempt bonds.

The Securities and Exchange Commission has obtained a final judgment against John Paulsen, a broker-dealer charged with aiding and abetting a pay-to-play scheme with the New York State Common Retirement Fund.

The Commission’s enforcement results highlight the importance of proper disclosure.

The case may turn on whether the SEC’s temporary order is capable of repetition and evading review.

“That's a big loss to me personally and to the commission,” SEC Commissioner Hester Peirce said Wednesday.

The application period for this significant role is slated to close Friday.

The position has been held by Rebecca Olsen since 2018.

A recent panel discussion shed some light on how issuers and borrowers should be disclosing climate related information.