Municipal advisors

The U.S. District Court for the Southern District of California entered a final judgment against Matthias O'Meara and Choice Advisors, fining them $312,572 and $187,337, respectively.

"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.

The commission charged the municipal advisors $1.3 million in penalties due to recordkeeping failures stemming from use of unmonitored communications, such as text messages, to conduct business.

Thompson is known for mentoring his employees and his fair treatment of clients.

Tensquare and its partner Karl Jentoft were charged for acting as an unregistered municipal advisor in eight offerings for charter schools in Minnesota.

The SEC won its case against Richard Ganci and Richard Tortora of Capital Markets Advisors over conflicts of interest present in their fee arrangement in connection to a $119 million offering for the City of Rochester, New York.

Kaufman Hall & Associates, Piper Sandler and Montague DeRose & Associates moved into the top 10, while CSG Advisors, Estrada Hinojosa and RBC Capital Markets were bumped.

Representatives from the Securities and Exchange Commission gathered Tuesday to discuss some of their examination priorities and some of the trends they're seeing outside of exams.

Capital Markets Advisors and its co-principals Richard Ganci and Richard Tortora are caught up in a legal back and forth with the SEC over how MSRB Rule G-42 on conflicts of interest applies to their case.

Caine Mitter & Associates and RBC Capital Markets moved into the top 10, while Piper Sandler & Co. and Kaufman Hall & Associates were bumped to the top 15.

The Philadelphia-based financial advisory firm has used BVAL for several years, but once the full interpolated curve and the intraday hourly changes were released on the EMMA, PFM decided to use BVAL as its primary pricing curve.

The city may also issue an RFP for underwriters, though the timing is not set, said CFO Jill Jaworski.

The municipal market is bifurcated, opaque, and can be a challenge to price even on a steady day. In this idiosyncratic market, especially in times of volatility, data-driven decision-making is key, whether pricing a new deal in the primary market or trading it in the secondary. Learn more.

The hire by Missouri-based Stifel comes as some broker-dealers trim ranks amid weak issuance.

The SEC's Examination Division will focus on solicitor municipal advisors' compliance with new MSRB Rule G-46, which goes into effect on Mar. 1, 2024.

A recent paper reveals a combination of factors results in savings for issuers.

Municipal Capital Markets Group, Columbia Capital Management and Caine Mitter and Associates moved into the top 10, while Baker Tilly Municipal Advisors, Stifel Nicolaus & Co. and Swap Financial Group were ousted.