Local county officials in Illinois will be offered special financial training on how to protect their coffers from corrupt fiscal practices similar to what happened in Dixon, Ill. where the comptroller stole more than $50 million in public money.

A federal judge wants more information on bond firms involved in a $31 million borrowing by Allen Park, Mich. that was the target of a recent SEC probe.

Many issuers mulling whether to self-report disclosure violations under a Securities and Exchange Commission initiative will probably weigh their decisions right down to the deadline, and will not see any further guidance from the SEC, a muni law expert told market participants Tuesday.

The Financial Industry Regulatory Authority has fined three firms $32,500 and expelled another from FINRA membership for violations of municipal securities rules governing pricing, transaction reporting, record keeping, and supervision.

The Allen Park, Mich., case marks the first time a city official has been charged on the theory that he "controlled" the persons who committed the primary securities law violations, even though he isn't alleged to have participated or even known of the conduct at issue.

Florida's Palm Beach County School Board will consider a staff recommendation to file under the SEC's MCDC self-reporting disclosure initiative after learning that underwriters have already reported the district under the program.

A federal appeals court appears likely to hear oral arguments in the case of three convicted UBS AG bid riggers early next year, according to documents filed with the court this week.

An issuer has publicly disclosed its agreement to participate the Municipalities Continuing Disclosure Cooperation initiative, a decision several bond lawyers said could be a major misstep.

The municipal market should expect increased attention from the Securities and Exchange Commission's enforcement division, with a focus on pension fund abuses and pay to play violations, the SEC's top cop said Monday.

The Securities and Exchange Commission's unprecedented enforcement action against a former municipal official earlier this week in a case involving Allen Park, Mich. should make public leaders aware and cautious, legal experts and issuer officials said Friday.

The Fix LA Coalition, an effort spearheaded by labor unions and its allies, wants Los Angeles City Attorney Mike Feuer to file a regulatory complaint against the underwriters involved in 2006 interest rate swaps saying the risks weren't disclosed.

The city of Allen Park, Mich., is preparing to refinance up to $28 million of bonds that were the target of fraud charges and a recent settlement by the Securities and Exchange Commission.

The Securities and Exchange Commission has charged Allen Park, Mich., and two former city leaders with fraud in connection with a municipal bond offering to support a movie studio project within the city.

The Securities and Exchange Commission's enforcement action against 13 dealer firms Monday represents a broad commission effort to correct behavior that was probably due to mistakes by individual traders dealing with an unusual bond issuance, attorneys and market participants said Tuesday.

Former Miami, Fla. budget director Michael Boudreaux is seeking a rehearing before a full federal court of appeals after a three-judge panel earlier this year denied his claim of immunity from a Securities and Exchange Commission lawsuit.

The Securities and Exchange Commission today sanctioned 13 firms for improperly selling Puerto Rico bonds in denominations below a $100,000 minimum denomination set in a $3.5 billion offering earlier this year.

Claims against UBS from Puerto Rican investors have surged to $900 million, the group said Tuesday in its third-quarter earnings report.

Convicted bid-riggers Peter Ghavami, Michael Welty, and Gary Heinz are urging a federal appeals court to overturn a lower court's decision on the basis of an expired statute of limitations, improper testimony, and other alleged errors in their earlier trial, but the federal government is arguing the lower court was correct to punish the former UBS AG executives.

The Government of the U.S. Virgin Islands and the Virgin Islands Public Finance Authority filed a lawsuit this week against their former bond counsel and financial advisor, alleging they were negligent when they advised that $219.49 million of bonds issued in 2006 would be tax exempt.

The Municipal Securities Rulemaking Board is proposing to establish limits on the gifts and non-cash benefits municipal advisors can provide in their professional capacities.