Securities law

“The channel doesn’t matter in terms of responsibility for the information,” said SEC Chairman Jay Clayton.

Major banks accused of manipulating the variable-rate market are seeking to get the court to toss out the second amended whistleblower complaint filed by municipal advisor Johan Rosenberg.

The changes will slim down underwriters' disclosures to issuers, which many believed had become too lengthy and wordy to be useful.

The SEC brought four civil lawsuits and 10 stand-alone administrative proceedings, according to its annual report released Wednesday.

The Financial Industry Regulatory announced the action Wednesday, saying it stemmed from the firms' supervisory failures.

Dealer groups believe that some sections of the proposed amended guidance such as complex financing and disclosure standards would add complexity to the rule.

Baker McKenzie created a new group to integrate regulation and enforcement in a move to align with the Securities and Exchange Commission's practices.

The Municipal Securities Rulemaking Board plans a review after pressure from Sens. John Kennedy and Elizabeth Warren to change the makeup of its membership.

In the SEC inquiry, along with a separate FAA investigation, regulators are trying to determine if airport revenues were misspent.

The Securities and Exchange Commission issued a non-public letter to the city of Atlanta last week, prompting a possible investigation into its airport.

The dealer entered into two municipal bond orders into a recently deceased customer's account.

Years after the Securities and Exchange Commission enacted a rule to require floating net asset values, finance officers are fighting the legislative malaise to try to undo it.

The firm attached a corrective action statement detailing changes to its personnel, compliance department and municipal trading desk.

Also revealed is the addition of longtime NABL member Perry Israel to the Edelweiss Fund legal team.

Though many participants were pleased with changes the Municipal Securities Rulemaking Board has proposed for its fair dealing guidance, some worried about new compliance expectations.

The Bond Dealers of America is forming an Affiliate Member Division to bring a lobbyist voice to smaller firms.

Administrative failures or a lack of understanding of the rule may be to blame.

Municipal advisors can begin taking their principal exams in November.

The Securities and Exchange Commission is seeking comment on exemptive relief for municipal advisors in some activities in private placement deals, eliciting fierce resistance from broker-dealer groups.

Issuers look for more options in their private placement deals amid conversation on broker dealers’ and municipal advisors’ roles.