Municipal advisors

The Fifth District Court of Appeals in New Orleans has yet to decide if oral arguments will be held in the suit brought by Calvin Grigsby.

Stull will work with a wide variety of issuers, including the Sunshine State’s growing charter school industry.

Two researchers found the Securities and Exchange Commission and Municipal Securities Rulemaking Board had different data on municipal advisor registrants with a number of MAs failing to update SEC filings.

The SEC issued separate administrative orders Monday stripping Malachi Financial Products of its muni advisory registration and barring Porter Bingham from the industry.

The new guidance is just the first of a planned three-part release, which will later cover social media use and the rule's content standards.

Municipal advisors were hoping for something more robust than the comments the MSRB incorporated into its latest "compliance resource."

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.

The MSRB said its newly-approved rules are an important part of its regulatory efforts, while groups representing dealers and MAs are say they are confusing and need clarification.

Muni market groups told the MSRB that its latest FAQs about municipal advisors need to more clearly integrate existing guidance from both the board and the SEC to avoid creating confusion.

The MSRB said the paper was prompted in part by the tax law's prohibition on advance refundings and the fact that interest rate swap rules intersect with the board's rules for municipal advisors.