Washington

Three areas are new additions to the work plan of the Tax Exempt and Government Entities Business Operating Division, IRS officials said.

FINRA found, and the SEC upheld, muni and other rule that violations Thaddeus North failed to prevent as chief compliance officer.

The Treasury Department Inspector General for Tax Administration plans to audit the IRS' use of a much-feared enforcement tool under which it can impose penalties for the misconduct of municipal bond transaction participants such as underwriters, lawyers, municipal advisors or their firms.

The memo appears to respond to a March 29 written request by the National Association of Bond Lawyers to Christie Jacobs, director of the IRS Indian Tribal Governments/Tax Exempt Bonds Office to clarify the new law.

The defense team accused the SEC of a "gross abuse of power."

The pilot program began in May, but was not officially announced by the IRS until last week.

The first meeting for several new board members included discussions with other regulators and groups, the MSRB said Monday.

The number of MSRB-registered dealers has fallen by almost one-third since 2009 and FINRA and the MSRB have some concerns about it.

Unless risks materialize, Federal Reserve Bank of Boston President Eric Rosengren see rates being raised gradually until they are "mildly restrictive."

Federal Reserve Bank of Minneapolis President Neel Kashkari thinks it would be wise for the Federal Open Market Committee to take a breather from rate hikes.