As the SEC toys with the possibility of imposing further regulations on money market funds, those close to the $2.6 trillion industry say the revisions are problematic, highly unnecessary, and could seriously undermine the successful operation and existence of the 40-year-old industry.

New Rule G-43 requires that broker's brokers make reasonable efforts to obtain fair and reasonable prices when conducting secondary-market "bid-wanted" auctions.

Mary Schapiro, chairman of the Securities and Exchange Commission, laid out a case for additional money market reforms before the Senate Banking Committee Thursday.

The Municipal Securities Rulemaking Board unveiled three new paid information packages Wednesday, giving market participants access to historic primary market disclosures, historic continuing disclosures and historic data for variable-rate securities.

Additional regulation of money-market mutual funds could increase short-term borrowing costs for state and local governments, leading municipalities to raise taxes or cut spending on infrastructure and other critical projects, according to a paper released Monday by a Georgetown University professor.

The Financial Industry Regulatory Authority ordered five firms — Neuberger Berman, Lawson Financial, Edward D. Jones, Estrada Hinojosa and UVEST Financial — to pay a total of nearly $120,000 in fines and restitution for violations of municipal securities rules.

FINRA will soon begin examining underwriters of municipal bonds to see if they can show they have carried out disclosure due-diligence obligations like those in a risk alert the SEC issued in March, a senior official said.

CHICAGO — Bond lawyers are beginning to require that underwriters sit down with members of the issuer’s finance team to discuss how they determined the issue price for the bonds, an IRS official said at a seminar held here on Wednesday.

As GASB prepares to vote on new standards for public pension fund accounting that would shed light on unfunded liabilities, a recently formed state and local task force is developing guidance to keep governments focused on their annual required contributions.

CHICAGO — Ongoing turmoil in financial markets and historically low interest rates have led institutional investors to increase scrutiny of issuers’ disclosure documents, an insurance company investment officer said at the Government Finance Officers Association annual meeting.

CHICAGO — Government Finance Officers Association debt committee members on Sunday urged municipal issuers to consider disclosing information about their bank loans online on EMMA in the wake of a Municipal Securities Rulemaking Board notice requesting such information.

The IRS will begin limited-scope examinations of bond anticipation notes in July and then examinations of filed 8038-T forms on arbitrage rebate, an IRS official said.