Securities law

The new amendments to be filed to the Securities and Exchange Commission will give disclosure responsibility to the lead underwriter, meaning less duplicative disclosure for issuers.

Bond Dealers of America members said they have spent an average of more than $17 million on regulatory costs since the beginning of the 2008 credit crisis.

The MSRB said Rule G-29 doesn't make sense anymore since the rulebook can be accessed online.

The court shouldn't accept banker Peter Cannava's "narrow and cramped view of materiality,” the SEC urged.

The Municipal Securities Rulemaking Board is making its MuniEdPro free for all market participants.

On deck for the meeting scheduled for next week, the MSRB's Board of Directors will discuss pennying, upcoming EMMA enhancements and financial disclosure timeliness by issuers.

Whistleblower Johan Rosenberg has alleged that the conspiracy cost issuers over $1 billion — $719 million in California, $349 million in Illinois, and $134 million in Massachusetts.

The SEC now has a stronger card to play when pursuing an enforcement case, lawyers said.

Cannava argues that emails, witness statements, and other evidence cast doubt on the SEC's claims that he acted recklessly.

Former college official Keith Borge was charged Thursday with defrauding municipal securities investors and concealing the school’s crumbling finances.