Washington

The Municipal Securities Rulemaking Board announced on Wednesday that it is seeking input from market participants on where to focus its long-term strategic plan and specifically how it can improve its EMMA system.

The SEC's MCDC initiative is causing many municipal issuers and underwriters to change the way they do things.

A judge has agreed to put Peter Cannava back into a Securities and Exchange Commission lawsuit that alleges the Wells Fargo banker aided and abetted the defrauding of investors in connection with a private placement by 38 Studios.

Municipal advisors face growing concern that some activities they could pursue to help clients make private placements might land them in hot water with the Securities and Exchange Commission.

Larry Kidwell, president of Brentwood, Tenn.- based Kidwell and Company, has been elected as the new president of the National Association of Municipal Advisors.

Securities and Exchange Commission examinations of municipal advisors over the past two years found fiduciary duty and fair dealing violations, said SEC officials who cautioned the number of MA exams will increase in 2017.

The city of Miami will consider paying $1 million, as recommended by City Attorney Victoria Mendez, to settle a Securities and Exchange Commission’s lawsuit.

Dealer groups are warning that a Municipal Securities Rulemaking Board proposal to require dealers to disclose their markups and markdowns in certain transactions would be overly complex and hurt liquidity.

Peter Cannava is fighting the Securities and Exchange Commission’s attempt to put him back into its lawsuit over 38 Studios’ private placement by trying to amend the complaint to include more details about his alleged aiding and abetting the defrauding of investors.

The highest tax-exempt bond priority audits for fiscal year 2017 will be on claims and returns that have been identified because of noncompliance issues, according to the work plan for the IRS’ Tax-Exempt Bond Office.