Securities law

A lawsuit alleging fraud accusing banks and broker-dealers of fraud in the variable-rate demand obligation market will proceed, an Illinois judge ruled.

Issuers say a variety of factors make it difficult to get audits in any faster.

Trade reporting and supervisory failures were behind FINRA's action against the New York-based firm.

Broker-dealers can avoid fines if they self-report 529 savings plan supervisory violations by April 1.

With Rule 15c2-12 amendments taking effect at the end of February, issuers expressed confusion about their impact on continuing disclosure responsibilities.

The MSRB plans to file for a new effective date for new advertising requirements as soon as the government reopens.

FINRA found the firm should have disclosed late payments and other material information to investors in COPs linked to Brogdon projects.

Dealers want to change some of the language in the Municipal Securities Rulemaking Board Rule G-17 interpretive guidance.

The Municipal Securities Rulemaking Board is postponing its Series 54 pilot examination by a month to March 2019.

Three lawsuits claiming fraud in the variable-rate demand obligation market are headed toward key court rulings in coming weeks.

MSRB board members and staff are slated to participate in eight events between next month and May.

The MSRB is hoping to help the market comply with the soon-to be-effective disclosure rule amendments.

The government shutdown limits the SEC's ability to answer issuers' questions on continuing disclosure requirements that take effect Feb. 27.

Municipal enforcement cases including SEC vs. Dwayne Edwards are among those that have been halted.

The Municipal Securities Rulemaking Board is looking to fill five spots for its Board of Directors, important roles influencing the municipal market.

So-called prearranged trading has the potential to do harm to the muni market and land broker-dealer firms in trouble, according to new MSRB draft guidance.

A Jan. 22 hearing has been set at which time a judge may order Dwayne Edwards to disgorge $766,850 plus interest and pay civil penalties.

The SEC has signaled a focus on pay-to-play and disclosure fraud.

Muni regulators are expected to slow the pace of new rulemaking and focus on enforcement in 2019, with an emphasis on continuing disclosure.

The SEC announced the settlement with former UBS broker Chris Rosenthal, the biggest yet from its ongoing flipping investigation.