Securities law

Broker and investment advisor Wayne von Borstel has been suspended by FINRA for 15 business days for violating MSRB Rule G-8 on recordkeeping

The disclosure from the Hampton County School District in Varnville, South Carolina provided no details on the status of the bonds, but the form itself indicates there is an audit underway.

Following the Supreme Court ruling in Carson v. Makin, states with bans on using bond proceeds for religious purposes may be forced to amend such laws.

Lanza said the "time was right" to return to the private sector.

Puerto Rico-based Ocean Capital is trying to gain control of several local tax-free income funds by electing members to the funds' board of directors, but current board members have refused to give up their seats.

The MSRB's priorities for the year include action on ESG, updates to its EMMALabs platform, and more requests for comment aimed at modernizing its rulebook.

Unregistered municipal advisor activity and breaches of fiduciary duty remain priorities.

"The vast majority of muni issuers are trying to do the right thing,” Zehner said. “The vast majority of underwriters and municipal advisors are trying to do the right thing.”

Mark Zehner has retired from his position as deputy chief of the SEC's public finance abuse unit, a position that Rebecca Olsen, former director of the Office of Municipal Securities, has taken over.

MSRB Executive Director Mark Kim, as well as the board's new chair and vice chair sit down for a talk about the board's priorities in the new fiscal year.

A superior court judge has granted the relator a small victory in a long fought case of alleged false claims, fraud and collusion.

The Securities and Exchange Commission settled with the Sweetwater Union High School District as well as former Chief Financial Officer Karen Michel.

The proposed changes would reduce the volume of disclosures dealers have to make to customers each year.

Porter Bingham stands accused of stealing $33,000 from the city of Rolling Fork, Mississippi.

The announcement came after the municipal advisors trade group said it had received a report of COVID-19 exposure at a testing site.

At stake, from SIFMA's perspective, is the potential of the SEC to revive the exemption in the future.

Ed Sisk, a managing director and head of public finance at Bank of America Merrill Lynch, has been MSRB chair since Oct. 1, 2019.

Dealers and muni advisors think the loyalties of solicitor MAs should be clearly disclosed.

The New York-based firm agreed to be censured, pay the penalty, and remedy alleged problems with its supervisory system.

The dealer group's concern is on the treatment of institutional SMMPs under the suitability standard.