SEC enforcement

The proposed settlement, filed in federal district court in New York late last week, would bring to a close the SEC’s case against Navnoor Kang, Deborah Kelley and Gregg Schonhorn.

In the SEC inquiry, along with a separate FAA investigation, regulators are trying to determine if airport revenues were misspent.

Municipal market participants got some comfort about their fraud liability if they act in good faith on interim financial disclosures.

The Securities and Exchange Commission issued a non-public letter to the city of Atlanta last week, prompting a possible investigation into its airport.

Ernesto Lanza will be leaving his position at Clark Hill to go to the SEC's Office of Municipal Securities, sources said.

Montebello Unified School District allegedly defrauded investors in the sale of $100 million in general obligation bonds.

At a bond lawyer conference, lawyers said they've seen increased interest in self-reporting.

“Reporting unauthorized transactions is certainly a good first step in building cooperation,” said one lawyer. “But there could be a lot more to it.”

The MSRB wants to work with other regulatory groups to decrease confusion surrounding suitability rules in conjunction with the SEC's new Regulation Best Interest.

Moody's upgraded the Lincoln-Way district, saying it has effected a fiscal turnaround after the management woes and investigations that sent it to junk in 2016.

The firm has notified regulators and the FBI about the alleged illegal, off-book trade activity, which sources say cost the firm more than $10 million.

Her announcement comes at a time of scrutiny from lawmakers and the SEC.

The SEC and Bank of Oklahoma differ in what they want a federal judge to do next in the Christopher Brogdon case, though both claim to have investors' best interests at heart.

GFOA is putting together a working group to address concerns about continuing disclosure in the municipal market, a topic increasingly discussed among stakeholders.

Registered advisory firm Dale Scott & Co. will pay $25,000, and one firm and one individual each will pay $10,000 for acting as unregistered solicitors.

The Long Island township is emerging from the cloud of SEC scrutiny.

The monitorship plan will extend until Sept. 13 for seven assisted living facilities he is trying to liquidate.

Allison Herren Lee is short on direct municipal market experience, but has a well-rounded background as a securities lawyer.

Investors will still lose big as the SEC's case against Dwayne Edwards and Todd Barker is now all but over.

Investor confusion about Harvey, Illinois, and a local library district contributed to a municipal advisor and broker-dealer facing Securities and Exchange Commission charges in a bond offering gone wrong.