Enforcement actions

The IRS has issued a preliminary determination that educational and general revenue bonds issued in 2018 by the University of Rhode Island are taxable due to alleged noncompliance with requirements of Section 149(g).

Knoxville, Tennessee-based Home Financial Services failed to disclose execution time, mark ups and mark downs to customers on municipal securities transactions, FINRA said.

FINRA has charged Crews and Associates $50,000 and its former head trader and CEO $30,000 for selling municipal bonds with markups and for failing to maintain a supervisory system.

Without admitting or denying the findings, Blaylock Van consented to FINRA's findings that it failed to establish and maintain written supervisory procedures.

FINRA accused the firm of negligently misrepresenting monthly account statements.

Broker and investment advisor Wayne von Borstel has been suspended by FINRA for 15 business days for violating MSRB Rule G-8 on recordkeeping

The Securities and Exchange Commission has sustained the Financial Industry Regulatory Authority’s disciplinary action against J.W. Korth & Company.

Montebello Unified priced a $12.2 million tax-exempt refunding, but didn't execute a planned taxable tranche.

FINRA found that RBC’s supervisory system did not flag recommendations that resulted in potentially unsuitable concentrations of high-yield bonds in certain customer accounts.

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