Washington

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.

The House Natural Resources Committee, meanwhile, is meeting Oct. 22 to consider removing the infrastructure revitalization section from the federal legislation that established the Puerto Rico Financial Oversight and Management Board.

With talk of a possible mini deal on trade with China and the Federal Reserve announcing it will buy about $60 billion of Treasury bills each month to build its reserves, the 10-year Treasury note was yielding more than three-month bills on Friday for the first time since July.

Part of the problem could be “the apparent failure of mainstream economic models to capture fully the current reality.”

MSRB Chief Education Officer Ritta McLaughlin will be the fifth senior official to leave the MSRB in the last couple of months.

The sections pertaining to public finance can be implemented immediately.

The minutes from the latest Federal Open Market Committee’s policy-setting meeting highlighted some disagreements between members.

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.