SEC

"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.

The commission charged the municipal advisors $1.3 million in penalties due to recordkeeping failures stemming from use of unmonitored communications, such as text messages, to conduct business.

The agencies are overstepping their statutory authority in trying to force the market to adopt a new securities identifier, says the American Bankers Association.

The House Financial Services Committee held a hearing Tuesday examining the practices of proxy advisors and their relationship with ESG investing.

Tensquare and its partner Karl Jentoft were charged for acting as an unregistered municipal advisor in eight offerings for charter schools in Minnesota.

The state's year-old rules ban broker-dealers and investment advisors from using non-financial criteria in investment strategies.

A new classification scheme would allow market participants, both on the buy and sell sides, to correctly identify the source and nature of credit risk in their holdings and to aggregate such risk into meaningful sectors that share common risk drivers.

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

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.

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.