Municipal advisors

The SEC released an emergency order Tuesday that would allow municipal advisors to facilitate some private placement deals, which have seen an uptick during the pandemic.

Broker-dealers oppose a proposed change to MSRB's governance rule that would reserve two seats for municipal advisors.

Perhaps most important, nobody involved in this issue has argued that issuers or anybody else would benefit in any way from exempting MAs from appropriate regulation.

NAMA believes the order will strengthen protection for issuers in keeping with the recent reforms in the municipal market.

Sources say action on the SEC's proposed exemptive order has slowed, though it could garner attention at next week's conference.

The American Securities Association sent a letter to the SEC regarding the regulator's proposed exemptive order for muni advisors, calling it an "ill-advised effort."

Fieldman, Rolapp & Associates hired Un Chu Reardon in Seattle and Rachel Chang-Kwei in Irvine, California.

If the new projections bear out Wisconsin would bolster cash and reserve balances while trimming a longstanding GAAP deficit

The dealer group has opposed the proposed order from the start, and is keeping the pressure on as the SEC appears poised to approve the proposal in some form.

The consulting firm will perform a comprehensive review of the city’s financial position, Mayor Justin Elicker said.