Broker dealers

SIFMA said Friday it had filed suit in Federal court in Washington D.C. asking the court to vacate the SEC’s Temporary Conditional Exemption.

Changes to the MSRB come a year after the proposal of legislation that would decrease the size of the board and increase the cooling off period for public board members.

Dealers are not seeing demand and are therefore not trading inventory this summer, sources say.

Hilltop was fined a total of $475,000, with $100,000 pertaining to violations of municipal securities rules.

VRDO reset rates in California consistently were too high to be justified, a new filing contends.

Several groups are arguing their case to keep their seats on a smaller board.

Conditions under a recently announced temporary exemption are narrow, SEC staff said, despite push back from dealers.

Days before the SEC's regulation best interest goes into place, the SEC approved corresponding changes to muni securities rules.

Rep. French Hill, R-Ark., said the SEC's temporary relief for MAs to facilitate some private placement deals without registering as a broker-dealer should not have been created through exemptive relief.

Sorth, who joins as a managing director, will provide municipal bond underwriting and advisory services to clients in Missouri and the Midwest.