Enforcement

Early returns indicate there have been some problems but firms seem to be working through them in complying with the new markup rules, regulators and industry officials said Tuesday.

The IRS is focusing on $435.2 million of Series 2014A senior lien revenue refunding bonds and $75.87 million of Series 2014C second lien revenue refunding bonds.

FINRA found that Gates Capital and three of its employees breached several MSRB rules, some related to role-switching from advisor to underwriter on the same transaction.

A muni advisor and his firm defrauded a school district in south Texas, lying to it to gain business and failing to disclose a conflict of interest.

Lombard Securities and McDonald Partners agreed to pay fines after FINRA examiners found various violations of MSRB rules, including supervisory failures and trade reporting deficiencies.

The proposed legislation formally allows certain but not all taxpayers to have access to their IRS audit case file prior to dispute resolution hearings, ending the requirement to file a request under the Freedom of Information Act.

Chicago suburb warns of "catastrophic” impact of state withholding funds.

An unsealed whistleblower lawsuit accuses eight Wall Street and regional banks and broker-dealers that served as remarketing agents of fraud and collusion in resetting rates for variable rate demand obligations issued by state and local issuers in Illinois.

The SEC wants a quick end to its case against former Ramapo, N.Y. town supervisor Christopher St. Lawrence, but St. Lawrence's lawyer wants a federal judge to proceed to trial.

The proposal would allow taxpayers to have access to their IRS audit case file prior to dispute resolution hearings, ending the requirement to file requests under the Freedom of Information Act.