Securities law

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.

The National Federation of Municipal Analysts's latest paper is part of the group's push to encourage "more robust" secondary market disclosure.

Late last week FINRA sent out a notice reminding its members to register as MAs if they engage in investment-related activity with their clients.

Market participants want someone with a deep industry knowledge as the MSRB is set to begin its search for a new president.

In Schwartz, MSRB loses an experienced lawyer, respected by his peers, as it faces a future without its longtime leader.

Edward Sisk, a managing director and head of public finance at Bank of America Merrill Lynch, will chair the Municipal Securities Rulemaking Board beginning Oct. 1.

MSRB President and CEO Lynnette Kelly will be retiring at the end of the fiscal year after 12 years leading the organization.

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.

FINRA settled with two parties after they violated MSRB Rule G-17 by whiting out dates and failing to disclose a $2 million fee up until an issuance.

SEC Chair Clayton’s comments that information on EMMA is subject to more scrutiny could be true for some participants depending on issuers’ reliance on the MSRB site.

The complaint filed by Philadelphia and Baltimore fails to rise to the level of specificity needed to prove conspiracy, Wall Street banks told a federal judge.