The Securities and Exchange Commission has charged South Miami, Fla. with defrauding investors by negligently making misstatements and failing to disclose actions it took that jeopardized the tax-exempt status of $12 million of bonds.

A trio of convicted bid riggers deserve prison terms of more than 16 years as well as hundreds of thousands of dollars in fines when they face a judge in July, according to the government's sentencing recommendations.

Harrisburg, Pa., Mayor Linda Thompson must overcome bad poll numbers in her re-election bid as the capital city's woes provide a Democratic primary backdrop.

Arkansas State Treasurer Martha Shoffner was arrested Friday by the FBI on a charge of public corruption dealing with extortion.

The Financial Industry Regulatory Authority fined five firms nearly $200,000 for violations of municipal securities rules, and ordered that they pay many thousands more in customer restitution.

While current and former SEC officials say the agency could only do so much in its securities fraud case against Harrisburg, Pa., that didn't set well with critics.

The SEC's fraudulent-disclosure charge against Harrisburg, Pa., has larger implications for secondary market disclosures, legal experts assert.

Ohio Auditor David Yost warned local governments to tread carefully when talking about their financial conditions, calling this week's SEC charges against Harrisburg, Pa. a "watershed moment" for local politicians.

The SEC's fraud accusations against Harrisburg, Pa., could be a deterrent, some market observers say, even if the city appeared to suffer little from the action.

Critics say the Securities and Exchange Commission should dig well beyond its cease-and-desist order in its Harrisburg, Pa., securities fraud case.

The Securities and Exchange Commission announced Monday it has charged the City of Harrisburg, Pa., with securities fraud for making misleading public statements when its financial condition was deteriorating.

George Canellos and Andrew Ceresney have been named co-directors of the Securities and Exchange Commission's enforcement division — the first time the SEC will has had two leaders of the group.

The Securities and Exchange Commission today charged the chief executive officer of a Chicago-based advisory firm with lying to the California Public Employers' Retirement System and other clients about the amount of money managed by the firm.

The Financial Industry Regulatory Authority fined a firm $37,500 for trade and books and records violations, and a broker $5,000, giving him a four-month suspension, for telling a customer he redeemed bonds rather than sold them without the customer's permission.

The Securities and Exchange Commission objects to further delay in the 2009 case against two JPMorgan bankers charged with bribing Jefferson County, Ala., commissioners and broker-dealers to win business.

Three former employees of CDR Financial Products Inc. who cooperated with the government's investigation into municipal bond bid-rigging were given prison terms ranging from six months to 18 months.

Missouri Secretary of State Jason Kander issued a cease-and-desist order against the former Morgan Keegan & Co. Inc. for alleged fraud in its role as underwriter on $39 million of defaulted revenue bonds issued by a Missouri city for a now abandoned artificial sweetener plant.

Four firms agreed to pay $105,000 in fines for violations of pricing, political contribution, supervisory and other rules of the Municipal Securities Rulemaking Board.

The Securities and Exchange Commission has asked a federal court in Birmingham, Ala., to set a trial date for two former JPMorgan bankers facing charges related to bankrupt Jefferson County's defaulted sewer deals.