Bankrupt Jefferson County, Ala.'s former financial advisor James White revealed "privileged" information and violated his fiduciary duties, attorneys for the county claim.

American Airlines and US Airways Group Inc. settled an antitrust lawsuit with the U.S. Department of Justice, clearing American's path to exit bankruptcy and repay its municipal bondholders.

WASHINGTON — The Securities and Exchange Commission filed motions arguing it met the burden of proof necessary to move forward with securities fraud allegations against Miami and its former budget director.

The Securities and Exchange Commission Friday announced that LeeAnn Gaunt will lead its enforcement division's municipal securities and public pensions unit, replacing Elaine Greenberg, who left to join a law firm.

The SEC's enforcement action against participants in the Regional Events Center Public Facilities District's arena deal shows that the commission will not shy from seeking financial penalties against municipal issuers and transaction participants, market participants said.

Jefferson County, Ala.'s bankruptcy plan will eliminate dozens of suits, restructure debt, and offer the sewer system "a fresh start," court documents said.

Securities and Exchange Commission chairman Mary Jo White said Wednesday that a 2012 risk alert on whether underwriters are doing enough to ensure the accuracy of offering documents is an example of how behind-the-scenes SEC action protects investors.

Former JPMorgan bankers argue that bankrupt Jefferson County, Ala.'s swap transactions are outside the Securities and Exchange Commission’s purview.

The Greater Wenatchee, Wash., Regional Events Center Public Facilities District has agreed to pay $20,000 — the first financial penalty the SEC has assessed against a municipal bond issuer — to settle Securities and Exchange Commission charges that it misled investors of bonds used to finance the construction of an events center and ice hockey arena.

The Municipal Securities Rulemaking Board announced Monday that it has begun a multi-year campaign to expand outreach to state and local issuers, emphasizing how they can use the MSRB's EMMA website for disclosure compliance and education.

The IRS completed an examination into $153 million of bonds issued by Miami in 2007 without a change in tax exempt status.

The Securities and Exchange Commission’s chief administrative law judge has dismissed a commission order instituting cease and desist proceedings against two UBS Financial Services, Inc. of Puerto Rico executives for allegedly misleading mutual fund investors.

Miami and its former budget director Michael Boudreaux are urging a federal district court to dismiss the securities fraud charges the Securities and Exchange Commmision filed against them in July for disclosure failures.

Attorneys representing Victorville, Calif. and its officials argued in court that SEC fraud charges in connection with a 2008 bond offering should be dismissed.

A federal court in New York delayed the sentencing of former UBS Banker Mark Zaino to Dec. 12 for his role in rigging municipal bond contracts.

The Securities and Exchange Commission is conducting nationwide, "limited scope examinations" of certain mutual funds that invest in Puerto Rico securities, according to a document obtained by The Bond Buyer and knowledgeable sources.

Two law firms have filed cases against UBS over losses on closed-end funds holding Puerto Rico municipal bonds.

Sentencing for convicted bid-rigger David Rubin has been pushed back to Dec. 3 from Oct. 18, at the request of defense attorneys who said they needed more time to prepare an analysis disputing the $11.5 million of restitution federal prosecutors are seeking.

The Financial Industry Regulatory Authority has fined three firms a total $115,000, and ordered two of them to pay $35,441 of restitution to customers, for violating municipal securities fair pricing, fair dealing and primary offering disclosure rules.

Regulators warned brokers at a Bond Dealers of America conference not to play loose with municipal securities rules, and asked them to report competitors they suspect.