Securities law

Numbers showed 167 submissions for Rule 15c2-12's Event 15.

Philadelphia awarded a $190 million general obligation deal to banks the city is suing, alleging collusion on variable-rate debt.

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.

A former municipal advisor accused of billing a city thousands of dollars for services it did not receive is now facing criminal fraud charges.

Ahmed Abonamah, a senior counsel to the director in the SEC’s Office of Municipal Securities, told the National Muni Bond Summit SEC Chair Jay Clayton has concerns about the timeliness of issuers’ financial information disclosure.

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

Mid-size issuers may be experiencing the greatest impact, with one municipality even reporting that an underwriter withdrew a bid over a disclosure requirement.

A Chicago area broker-dealer agreed to pay a $25,000 to settle FINRA charges that it relied on alternative trading systems and failed to maintain its own risk-management controls.

The new amendments would increase transparency and equal access to information, the MSRB said.

Longtime muni lobbyist Michael Decker will now have a working relationship with Bond Dealers of America.

While associated with J.P. Morgan, a broker allegedly cheated on her Series 52 exam, violating FINRA Rule 2010.