Securities law

The Financial Industry Regulatory Authority previously sanctioned UBS in 2015 for similar violations.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.

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

At the SEC's invitation, Bond Dealers of America submitted a proposed framework for an exemptive order aimed at muni advisors on private placement deals.

The debate between buy-side analysts and issuers and their underwriters flared up during a panel discussion at The Bond Buyer's California Public Finance Conference.

New MSRB Chair Edward Sisk will start in his new role on Oct. 1.

The Municipal Securities Rulemaking Board is reviewing its size and the composition of its board, and projects an operating deficit for the coming year.

Partner, Chapman and Cutler

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

The New York-based firm mismarked 90% of its municipal securities trades, FINRA found.

A new legal bulletin was requested by SEC Chair Jay Clayton after he observed lawyers noting that some platforms put financial disclosure under more scrutiny.

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

“The City of Harvey, through no fault of Comer’s and unrelated to Comer’s fiduciary obligations, tainted the district’s offering,” according to the defense.

Rich Moore takes over the top spot at NABL during the first day of a three-day annual conference in Chicago.

This is the second letter BDA has sent to the SEC in the last couple of months opposing any kind of relief for muni advisors involved in private placements.

The MSRB announced Monday that Post will be a “senior advisor” through the end of the month, when the board’s fiscal year ends.

Some say a case announced yesterday echoed one last year where traders allegedly lied to get priority in their orders for newly-issued bonds.

Thomas Muldoon should properly have placed his orders as dealer stock orders, the SEC found, but instead asked representatives to submit them as retail orders.

“A highly sophisticated frequent issuer may not need the same disclosures as a less sophisticated infrequent issuer,” the trade association for underwriters told the SEC.

Two courts have interpreted a legal question key to the VRDO lawsuits very differently.