SEC enforcement

A firm and its two principals have been charged for an improper fee-splitting arrangement under the relatively new regulatory regime for municipal advisors.

RBC and two muni managers settled charges of flipping bonds in the SEC's latest action targeting abuse of retail order periods.

The Securities and Exchange Commission settled with the Sweetwater Union High School District as well as former Chief Financial Officer Karen Michel.

The settled proceeding against Anthony Falsetta, announced Tuesday, is the latest in a string of SEC cases targeting violations of retail order periods.

The trouble stems from a West Virginia tender offer deal Crews & Associates recommended to an issuer.

Former Markham, Illinois, Mayor David Webb Jr. was accused of pocketing bribes for a project financed with bonds. He also pled guilty to criminal charges.

FirstEnergy will pay $230 million under a deferred prosecution agreement with federal authorities in the alleged pay-to-play that benefitted its former subsidiary FirstEnergy Solutions.

Jose Ramirez says he doesn't recognize the criminal mastermind portrayed in the SEC's complaint against him.

SEC Chair Gary Gensler's pick for enforcement director resigned just days after being announced.

The surprise move was announced Wednesday in a Securities and Exchange Commission statement.

The new director will be familiar with pay-to-play enforcement and public accounting fraud, which are important in the muni space.

The pair of unregistered brokers will pay over $2 million in civil penalties.

The case is significant because so many municipal market participants rely on audited financial statements.

A federal judge agreed with the SEC that the Chicago suburb must prove the status of reforms agreed to in settling allegations the city misused bond proceeds.

His experience as an active regulator as head of the Commodities Futures Trading Commission may transfer to his new post.

Sources say pricing of bonds will be a prevalent issue in 2021 following comments made by bipartisan SEC commissioners.

The default-ridden Chicago suburb says the court's action to give it back control of its water operation could aid its 2021 objective of restructuring debt.

Lincoln Way school district in suburban Chicago moved further back up the investment grade ladder with a Moody's Investors Service upgrade.

Republican Commissioner Elad Roisman was named SEC acting chair and is unlikely to push any major initiatives in his short time, but he does have a focus on fixed income markets.

The firm violated municipal advertising and fair dealing rules, the SEC found.