Washington

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.

The judge assigned to Calvin Grigsby's federal discrimination lawsuit against the city of Shreveport, La., is considering whether to dismiss the complaint.

The Municipal Securities Rulemaking Board is proposing amendments that would outline minimum standards for municipal advisors' continuing education requirements.

As the new chair of the Municipal Securities Rulemaking Board on Oct. 1, Colleen Woodell hopes the board will begin new initiatives on syndicate practices and pre-trade price transparency during her one-year term.

The Internal Revenue Service has informally advised the Baker Correctional Development Corp. in Florida that $45 million of first mortgage revenue bonds it issued in 2008 are taxable.