Securities fraud

Clayton noted a trend of issuers being advised that information they supply on EMMA is subject to more anti-fraud scrutiny than information provided in other ways.

The financier's lawyers disputed a court-appointed monitor who had criticized him for maintaining an expensive lifestyle while his investors faced losses.

At the National Federation of Municipal Analysts’ annual meeting in Charleston, South Carolina, members asked the board to find ways to open up communications between investors and issuers.

The lawsuit filed in federal court is now the second national suit alleging fraud in the variable-rate debt market.

Municipal enforcement cases including SEC vs. Dwayne Edwards are among those that have been halted.

A Jan. 22 hearing has been set at which time a judge may order Dwayne Edwards to disgorge $766,850 plus interest and pay civil penalties.

The SEC announced the settlement with former UBS broker Chris Rosenthal, the biggest yet from its ongoing flipping investigation.

The Securities and Exchange Commission has sent letters to the 12 top banks and broker-dealers that remarket variable rate demand obligations, seeking information and documents on their remarketing and rate resetting practices.

The Senate voted 85 to 14 on Wednesday, mostly along party lines, to confirm Republican Elad Roisman to become a member of the Securities and Exchange Commission for a term expiring June 5, 2023.

A federal judge found that a former UBS "banking champion" broke the law when he advised customers to use lines of credit to invest in risky closed-end bond funds.