The state's leading Democrats are divided on the benefits of California's proposed billionaire's tax

"It's hard to know whether a decrease in enforcement is a statistical blip or early evidence of [a] meeker, milder FINRA in the current era," said Benjamin Edwards, an associate dean at UNLV law school.

The firm violated MSRB Rules G-47 and G-27, FINRA found

"The upgrade recognizes two important factors: the strong operating performance of Vogtle Units 3 and 4 since entering commercial service and the strength of the project's contractual framework," said Ernest Libershteyn, MEAG director of finance and treasury.

Budget legislation was introduced in both houses of the California legislature last week, setting up negotiations.

Market Intelligence analyst Jeff Lipton explains how California Mello-Roos land-secured bonds can add yield and diversification, and outlines the underwriting checklist investors should use to balance development risk against structural protections.

Muni bond issuers cut their median audit times from 2023 to 2024, with issuers in all governmental bond and most revenue bond sectors reducing audit timelines.

"I would say we were pleasantly surprised that there aren't mandates that are laced in this proposal," GFOA's Emily Brock said.

The letter from officials in Democrat strongholds asked the rating agencies to maintain their focus on financial analytics in viewing energy-dependence, rather than being swayed by the political winds.

The rating agency gave the city a negative outlook in November 2024, following voter approval of a ballot measure requiring more public safety funding.

"When FINRA and MSRB rules which cover similar functions differ in their application, it raises compliance costs for dealers and raises the risk of inadvertent noncompliance," the Bond Dealers of America said in its letter.

The Maryland Economic Development Corporation and the Internal Revenue Service have reached a resolution in a tax squabble over a bond issuance where proceeds of the sale were not spent within a three-year time window.

Ed Fierro, a partner at Bracewell, said "making any changes to the rule is a very lengthy process."

A sweeping Illinois bill to loosen local government audit requirements is on pause, but its backers hope to push the legislation through next session.

Affirmation of Otero County's ratings comes as a state law threatens bonds it sold for a detention facility used by federal immigration enforcement.

Ormonde said a significant portion of his practice will remain focused on California tax matters even as he works with colleagues across the firm's SALT team.

Moody's Ratings upgraded Detroit's issuer and general obligation unlimited tax bond ratings to A3 after S&P bumped Detroit to BBB-plus from BBB.

They are seeking legislation on transportation, water and other topics.

The former Massachusetts congressman "was a true champion for the municipal bond market," GFOA's Emily Brock said.

Proposed FEMA reforms could further increase financial strain for state and local governments after natural disasters.