Washington

The Bourne and Sagamore bridges over the Cape Cod Canal are functionally obsolete, according to their owner, the Army Corps of Engineers.

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

The U.S. economy’s loss of momentum isn’t severe enough to warrant a further reduction to interest rates, two hawkish Federal Reserve board members said.

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.

Assured Guaranty and two other bond insurers recently petitioned the Supreme Court to review an appellate court ruling involving the Puerto Rico Highways and Transportation Authority’s special revenue bonds.

The Financial Industry Regulatory Authority previously sanctioned UBS in 2015 for similar violations.

The first opportunity for repeal of the SALT cap prior to its December 2025 sunset date would be in early 2021 if Democrats can gain majority control of both chambers of Congress as well as the White House in the November 2020 election.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.