Municipal advisors

During an industry briefing Tuesday, SIFMA's Kenneth Bentsen, Jr., said no matter who leads the SEC next, SIFMA will argue for an end to a temporary exemptive order.

SIFMA told a federal court that the SEC's process failed when it announced the temporary conditional exemption for muni advisors.

The MSRB is looking specifically for issuers and non-dealer municipal advisors.

The board, at the first quarterly board meeting of its 2021 fiscal year, also voted to split its existing Nominating and Governance Committee into two.

Five new muni professionals join Hilltop Securities’ debt and fixed income capital market teams; all of them came from Wells Fargo.

Managing Director, DTA

As the country and the market hurtle toward an uncertain future, the Rising Stars will be among those working to keep states and localities strong.

The maximum allowable issuance under the SEC's temporary exemption is $20 million.

The low interest rates that resulted from COVID-19 caused high levels of muni issuance and market activity, resulting in MSRB's fiscal year 2021 revenue significantly outperforming.

Securities lawyers and the trade group for municipal advisors agree unregistered muni advisors shouldn't still be ignorant of the law.

Irene Carroll and her company, Funding the Gap LLC, settled with the SEC Friday for not registering as municipal advisors. The SEC said Caroll knew she provided similar services as an MA.

The Municipal Securities Rulemaking Board's David Hodapp said an MA's fiduciary duty to an issuer trumps fair dealing obligations to investors.

From June to July, not many municipal advisors relied on the SEC's temporary exemption and some sources say they don't expect it to be heavily used.

Johnsen, 67, had served as a board member of the National Association of Municipal Advisors. He retired in 2018 as a principal of Fieldman, Rolapp & Associates.

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.

The pandemic presents new challenges to regulators examining municipal advisor firms.

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.

UMB plans to focus on higher education with its initial thrust into advisory services.

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.