Broker dealers

The SEC has signaled a focus on pay-to-play and disclosure fraud.

Ex-Morgan Stanley broker Ami Forte made national headlines after allegedly violating multiple municipal securities and other rules, the Financial Industry Regulatory Authority found.

SIFMA and BDA responded to the MSRB's request for comment on muni indices and benchmarks, and transparency was a major theme.

The firm, recapitalized in April, is building out its municipal market presence.

The municipal bond industry marched at the head of the parade as the nation celebrated National Veterans Small Business Week.

The Treasury Department Inspector General for Tax Administration plans to audit the IRS' use of a much-feared enforcement tool under which it can impose penalties for the misconduct of municipal bond transaction participants such as underwriters, lawyers, municipal advisors or their firms.

The defense team accused the SEC of a "gross abuse of power."

The number of MSRB-registered dealers has fallen by almost one-third since 2009 and FINRA and the MSRB have some concerns about it.

Recently announced streamlining and rumored budget cuts and layoffs at SIFMA are causing market participants to worry about its commitment to municipal securities.

Gary Hall, who became the new MSRB chair on Monday, says he has a "reverence" for the muni market.

SIFMA is publishing a new model document that it says should help underwriters avoid regulatory risk.

Widespread use of the bid-wanted process as a price discovery tool could hurt market integrity, the MSRB believes.

Dominick Mondi will remain president of the firm's capital markets division.

Chicago is accepting request for qualification submissions to supplement the members of its existing pools.

The MSRB's new FAQs examine an issue on which municipal advisor firms have been seeking guidance for months.

The MSRB aims to provide considerations for firms looking at their compliance procedures.

The MSRB is hurrying to release multiple rounds of guidance on its pending muni advisor advertising rule, but industry groups say the first round could use some polish.

Sen. John Kennedy, R-La., suggested he and Sen. Elizabeth Warren, D-Mass., may introduce a bill that would require MSRB to elect public members who represent consumers and are not just retired industry executives.

Banker David Schott has joined Stern Brothers' New York office.

The Municipal Securities Rulemaking Board named Gary Hall as its next chair and Edward Sisk to become vice chair. It also temporarily cut fees to reduce excess reserves by $2.6 million.