Washington

A lawyer facing Securities and Exchange Commission charges that he violated federal securities laws as part of a pay-to-play scheme to secure Ohio pension business is arguing the commission’s charges cannot apply to him and should be dismissed.

The Municipal Securities Rulemaking Board is making its trade data available through a research platform to individuals associated with more than 400 institutions around the world, but without the controversial anonymous dealer identifiers in a proposed new product still under development.

The two years since the announcement of the Securities and Exchange Commission’s Municipalities Continuing Disclosure Cooperation initiative have contained vast improvements in disclosure for the municipal market but there are still issues to tackle and questions to ask as disclosure continues evolving, market participants speaking on a panel here said.

The Municipal Securities Rulemaking Board’s proposal to require dealers acting as principals to disclose their markups and markdowns on retail confirmations would add complexity to the market and subject dealers to significant costs, dealers and others said here on Thursday.

About of 50 of the 650 registered municipal advisors were examined by the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations in fiscal 2015, the office director told House subcommittee members on Thursday.

The Municipal Securities Rulemaking Board will move forward with a revised proposal that would mandate municipal securities transactions be closed out within 20 instead of 30 days of settlement, Lynnette Kelly, the MSRB’s executive director said on Monday.

Ramapo, N.Y.’s A1 rating from Moody’s Investors Service is on review for downgrade in the wake of federal fraud charges alleging misstatements of financial reporting.

The Securities and Exchange Commission’s municipal enforcement unit could be bringing more cases with concurrent criminal charges in the future as it plans to increase its coordination with the Department of Justice and the Federal Bureau of Investigation.

Bond Dealers of America will be working on a full plate of issues this year as it helps its members navigate recent and ongoing regulatory developments while maintaining its educational and Capitol Hill-centered work, said new BDA board chair John Fechter.

First Winston Securities, Alton Securities Group, and MidAmerica Financial Services were ordered to pay a total of $115,000 in fines and restitution by the Financial Industry Regulatory Authority for violation of municipal securities rules.