Moody's also upgraded other Florida locality bonds recently as a result of a revised cities and counties rating methodology.

The SEC has charged Thrivent Investment Management for failing to comply with Regulation Best Interest's care and compliance obligation in connection with recommendations to retail investors in 529 Savings Plans.

September's bond market news: The Securities and Exchange Commission fines advisors $1.3 million, Trump promotes a U.S. sovereign wealth fund, and more key developments.

The U.S. District Court for the Southern District of California entered a final judgment against Matthias O'Meara and Choice Advisors, fining them $312,572 and $187,337, respectively.

The banking giant has been fined for reporting 65,335 municipal securities transactions that it shouldn't have, violating MSRB Rule G-14 on customer transaction reporting and MSRB Rule G-27 on supervision.

States and tax experts are wrestling with post-SALT scenarios.

Daniels assumes the role at a pivotal time for the regulator, which in the next year will see the launch of a new EMMA system, and implement its first new budget since 2023.

The Louisiana native looks back on five years with the board, including two years as chair and one as vice chair.

The trade group alliance is lobbying for the restoration of advance refunding and other legislative changes.

With the Municipal Securities Rulemaking Board's new amendments to Rule G-27 and the future of the tax-exempt status afforded to municipal bonds in the balance, there are many noteworthy policy developments.

The Commission approved changes to MSRB Rule G-14 on customer transaction reporting, paving the way for dealers and stakeholders to work with the MSRB to establish a reasonable path forward.

"That's great news, and it reflects the outstanding work and commitment of our city council and my administration to keep Tampa on rock-solid financial footing," said Tampa Mayor Jane Castor.

Carbon capture and broadband funding stalemated by questions over regulations

The Office of Tax-Exempt Bonds has been staffing up, IRS officials said at the National Association of Bond Lawyers conference in Chicago.

"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.

The Financial Industry Regulatory Authority found that the firm had not included the non-transaction-based compensation indicator on 23,000 municipal securities transactions.

The commission charged the municipal advisors $1.3 million in penalties due to recordkeeping failures stemming from use of unmonitored communications, such as text messages, to conduct business.

A negative outlook for the city's AA rating by Fitch Ratings follows similar action taken by S&P Global Ratings in July.

NAFOA is supporting passage of the Tribal Tax & Investment Reform Act, which would free up tribal bond issuance.

President Joe Biden's so-called billionaire tax supported by Vice President Kamala Harris, which would tax unrealized gains from assets including bonds, would raise $500 billion over 10 years, according to Sen. Elizabeth Warren, D-Mass.