FINRA has charged Crews and Associates $50,000 and its former head trader and CEO $30,000 for selling municipal bonds with markups and for failing to maintain a supervisory system.

"While everyone is watching the federal government experience a debt crisis and come close to defaulting on our nation's debt for the first time in history, Miami's credit rating was just recently upgraded," said Mayor Francis Suarez.

The exemption, which has been recently enforced by the Securities and Exchange Commission for the first time, will likely force some underwriters to opt out of it for fear of enforcement.

Panelists at the 2023 NFMA Annual Conference described the increasing costs and associated problems issuers will face in ensuring their communities maintain clean water.

The amendments make some key rule changes, including on the use of testimonials in municipal advisor advertising.

President Biden will ask the Senate to confirm Gov. Philip Jefferson for the No. 2 spot on the Federal Reserve Board; World Bank Group executive and Colombian-American Adriana Kugler for a vacant board seat; and Gov. Lisa Cook for a full term.

Fitch said its upgrade of Kentucky's IDR "reflects material improvements to Kentucky's fiscal reserves since 2020 as a result of improved budgetary discipline.

"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn.

The SEC recently brought its first ever enforcement actions for violating its limited offering exemption, and market participants are beginning to tighten up their policies and procedures in response.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

Lawmakers passed a stopgap $150 million loan fund for hospitals in fiscal distress, and will discuss longer-term solutions as the session progresses.

The Securities and Exchange Commission will be issuing two different rulemaking proposals to address the controversial Financial Data Transparency Act.

Washington Gov. Jay Inslee signed legislation Tuesday improving a tax increment financing program created in 2021 that wasn't working as intended.

Many say continued lower rate would threaten U.S. Virgin Islands' financial solvency.

The Federal Reserve took action against a small bank in southern Illinois whose exposures to interest rate changes left it with negative equity last year. The enforcement action comes as regulators review their oversight practices following Silicon Valley Bank's failure.

"When the rating agencies developed and rolled out their ESG scores, they said their ESG scores would not impact an issuer's credit rating. We are holding them to their word," said Ben Watkins, director of the state Division of Bond Finance.

"Dave has always worked hard, maintained the highest analytic integrity and role modeled independent thought," said Eden Perry, S&P head of U.S public finance. "He will be missed."

"The latest upgrade is further recognition of the work we have put into responsible budgeting," said Treasurer Elizabeth Maher Muoio.

A draft environmental report released by a federal agency could threaten California and Arizona's water supply, if the states don't reach an agreement on their own to protect the Colorado River.

First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.