As if bond rating downgrades, a $50 billion unfunded pension liability and teetering school districts weren’t enough, Pennsylvania must wrestle with more political scandal as its treasurer resigns to plead guilty after a federal investigation.

The Securities and Exchange Commission has filed a motion for summary judgment in its securities fraud case against two former JPMorgan bankers involved in Jefferson County's sewer deals and swaps.

Two former Allen Park, Mich. officials have settled a Securities and Exchange Commission lawsuit against them by agreeing to be barred from involvement in any future municipal bond offerings, and ex-Mayor Gary Burtka agreed to pay a $10,000 civil penalty, according to court documents filed Wednesday.

A federal judge ordered the former comptroller of a Harvey, Ill., to pay more than $200,000 in fines and barred him from participation in any future municipal issues for his role in misleading investors on several of the south Chicago suburb's past bond offerings.

Bondholders will learn later this month how much they stand to recoup from a settlement that ended a trial accusing Morgan Keegan & Co. Inc. of misleading them on a bond deal that soured after the failure of an artificial sweetener plant project in Moberly, Mo.

The Financial Industry Regulatory Authority has fined and censured New York-based Gates Capital Corporation $25,000 for failing to report variable rate demand obligation interest rate resets on time.

A settlement was announced Wednesday to end a federal civil trial stemming from a bond default triggered by the collapse of an artificial sweetener plant project in Moberly, Mo; the former Morgan Keegan & Co. Inc. was among the defendants.

Jury selection began Tuesday in a federal class action lawsuit accusing the former Morgan Keegan & Co. Inc. of securities fraud for its role in underwriting $39 million of defaulted bonds for a failed artificial sweetener plant in Moberly, Mo.

The Securities and Exchange Commission's examination focuses for 2015 include issues related to protecting retail investors and assessing the compliance of municipal advisor firms, the commission announced Tuesday.

The Securities and Exchange Commission is urging a federal court to accept the settlements it had reached with two former officials of the city of Allen Park, Mich., in November, after the court vacated them a day later and asked for more information.

While entangled in a federal lawsuit over disclosure issues, Miami rolled out a new transparency initiative to make financial data publicly available.

The Financial Industry Regulatory Authority's exam priorities for 2015 include making sure that both municipal advisors are complying with registration and other requirements and broker-dealers are meeting minimum denomination restrictions on bonds.

Market participants can expect increased municipal securities enforcement during 2015, a year that may bring resolution of the Securities and Exchange Commission's self-reporting initiative as well as greater emphasis on individual liability and secondary market disclosures.

Former Miami, Fla. budget director Michael Boudreaux is appealing to the U.S. Supreme Court after a federal appeals court decided not to reconsider its decision to disqualify his immunity from a Securities and Exchange Commission lawsuit.

Muni bond issuers in Texas posted updated disclosures to correct previous omissions under the Securities and Exchange Commission's MCDC initiative.

Some non-dealer municipal advisors wrongly believe providing advice to an issuer in their capacity as a municipal advisors means they can also act as an intermediary between the issuer and investors.

Municipal bond groups are seeking federal appeals court guidance in a ratepayer appeal of part of Jefferson County, Ala.'s Chapter 9 bankruptcy plan, saying the district court decision allowing a challenge of the plan threatens to undermine market stability.

As it steps up its efforts to police the municipal securities market, the regulator is turning to potentially career ending sanctions for municipal officials.

The Financial Industry Regulatory Authority has fined two firms a total of $7,500 for violations of Municipal Securities Rulemaking Board rules, FINRA said in its monthly disciplinary report Monday.

A federal judge in Chicago has signed off on Harvey, Ill.'s settlement with the Securities and Exchange Commission over charges it misled investors by diverting bond proceeds from their intended use.