Enforcement

The disclosure from the Hampton County School District in Varnville, South Carolina provided no details on the status of the bonds, but the form itself indicates there is an audit underway.

FINRA found that Michael Mancinelli improperly exercised discretion and caused his firm to have inaccurate books and records.

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.

Former JP Morgan broker allegedly provided incorrect and misleading account reports to a customer.

Underwriter Cantone Research’s alleged fraudulent misrepresentations are tied to two defaulted bond offerings.

Porter Bingham stands accused of stealing $33,000 from the city of Rolling Fork, Mississippi.

Alleged supervisory failures led to unsuitable trading patterns of Puerto Rico and other bonds, FINRA found.

The New York-based firm agreed to be censured, pay the penalty, and remedy alleged problems with its supervisory system.

Although many IRS audits of tax-exempt bonds are not reported on EMMA, the fact that only three have been reported almost halfway through the year highlights the recent drop in enforcement actions.

FINRA arbitrators ordered the wealth manager and closed-end funds manager to pay damages as it resolves outstanding claims stemming from the island’s fiscal crisis.

The administrative shuffle also means that Edward Killen, who had been promoted to Acting Commissioner of TEGE, will return to the role of deputy.

The program has drawn comparisons to the Securities and Exchange Commission's MCDC.

Dealerweb is a wholesale unit of Tradeweb Markets, a large fixed-income electronic trading platform company. FINRA found that Dealerweb failed to correctly report 147,000 trades.

The IRS will post quarterly updates of its enforcement strategy on the webpage of the Tax Exempt and Government Entities Division-Compliance Programs and Priorities.

Morgan Stanley, Ameritas Investment Company LLC and a former Stifel broker agreed this week to pay the fines for violating multiple muni securities rules.

First Manhattan Co. bought municipal securities from an unaffiliated dealer without making a reasonable effort to obtain fair and reasonable prices, FINRA said.

Sources say Hopper has considerable experience with municipal securities in her many years at the Financial Industry Regulatory Authority.

The Financial Industry Regulatory Authority released its annual Risk Monitoring and Examinations Priorities letter Thursday.

Dealer groups want the SEC to examine broker-dealers and municipal advisors equally.

The Securities and Exchange Commission plans to focus on protecting Main Street investors in municipal bonds.