Washington

Dealer groups are concerned that a proposed Municipal Securities Rulemaking Board standalone minimum denomination rule would hurt liquidity and adversely affect participants in the market.

The Internal Revenue Service's Office of Tax-Exempt Bonds has told its auditors that, if an issuer redeems 100% of the outstanding principal amount of its tax-exempt or tax-credit bonds, the audit can be closed without further TEB action.

The Municipal Securities Rulemaking Board plans to meet here Oct. 26-27 to discuss making certain pre-trade pricing data available on its EMMA website for retail investors as well as updating syndicate offering practices.

The former head of the Internal Revenue Service's tax-exempt bond office says TEB is ignoring alleged violations on a financing for a Syracuse mall that benefited from breaks sought by Hillary Clinton.

Massachusetts Treasurer Deborah Goldberg has banned Wells Fargo from its list of approved underwriters for one year, citing the fake-accounts scandal,

R. Seelaus & Co., Carty & Co., and Emmet & Co. have agreed to pay a total of $83,000 to settle separate charges by the Financial Industry Regulatory Authority related to unfair markups, trading below the minimum denomination, and trade reporting failures involving municipal securities.

The Municipal Securities Rulemaking Board must now have at least one municipal advisor representative board member present to constitute a quorum under a rule change it filed with the Securities and Exchange Commission on Friday.

Miami agreed to pay $1 million to settle securities fraud charges after the city was found guilty by a local jury of playing a shell game to hide its deteriorating financial condition from bondholders.

The Securities and Exchange Commission enforcement division’s heightened attention on the municipal market and application of new legal techniques to that enforcement are “here to stay,” according to the commission’s top cop, Andrew Ceresney.

The Securities and Exchange Commission voted unanimously on Thursday to finalize new open-end fund liquidity requirements that market participants said would hurt the industry by damaging the funds' appetites for munis.