Washington

Citigroup Global Markets Inc. scrapped the closing on $377.6 million in revenue and general obligation bonds it priced for El Camino Hospital in northern California after the U.S. Justice Department subpoenaed documents from the hospital.

Connecticut and Illinois state treasurers, in partnership with shareholder activists, called for a change in Wells Fargo’s corporate bylaws to ensure an independent non-executive board chair.

The Financial Services Institute has joined three state Republican groups in urging federal appeals court judges to vacate changes to a pay-to-play rule that they say harms market participants’ First Amendment rights.

The Securities and Exchange Commission's Office of Municipal Securities may propose changes to Rule 15c2-12 that would amend the list of event notices dealers must ensure issuers are disclosing.

Robert Crowe, the alleged fundraising expert for a pay-to-play scheme that took place in 2010 and 2011, is fighting the SEC’s fraud charges against him in Ohio federal court.

The MSRB reminded dealers on Tuesday that they are required to tell investors when a muni has market discount.

The IRS has sent auditors new procedures for information document requests sent to issuers.

Municipal advisors want the MSRB to take more time to consider how its proposed continuing education requirements for advisors would fit into the existing MA regulatory structure as well as provide details about how firms can best comply.

The Iowa Fertilizer Co. LLC’s construction and cash flow troubles led Fitch Ratings to downgrade deeper into junk almost $1.2 billion of project bonds that are now under an Internal Revenue Service cloud.

The median audit reporting time for all municipal bond-related sectors in fiscal year 2015 was the highest it has been since 2008, likely because of recent pension reporting rules.