Washington

The Municipal Securities Rulemaking Board will seek public comment on both how dealers should calculate the prevailing market price under its proposal requiring dealer disclosure of markups to retail customers and how it could get more issuers to disclose bank loans.

The Government Finance Officers Association is recommending state and local governments refrain from issuing bonds to finance the unfunded liabilities of health care and other non-pension post-employment benefit programs.

School and community college districts violate California law if they purposely incentivize municipal finance professionals to advocate for passage of a bond measure, said a formal opinion from Attorney General Kamala Harris.

The House is scheduled to hold a voice vote on Monday on a bill that would treat investment grade and actively traded municipal securities as high quality liquid assets under a rule banking regulators adopted in 2014.

Two Republican state committees that challenged the constitutionality of a Securities and Exchange Commission political contributions rule are insisting the SEC reject a Municipal Securities Rulemaking Board proposal to extend pay-to-play prohibitions to municipal advisors.

Dealer and advisor groups want revisions to a Municipal Securities Rulemaking Board proposal to extend pay-to-play prohibitions to non-dealer municipal advisors.

The Internal Revenue Service appears is stepping up its audit of $80 million of Arborwood Community Development District's 2006 bonds and appears to be focusing in part on the Florida CDD's board and land that may have been purchased at too high of a price.

The Municipal Securities Rulemaking Board plans to discuss bank loans and dealer disclosure of markups to retail customers during its board meeting here next week.

The Municipal Securities Rulemaking Board announced on Tuesday which registered brokers, dealers, and municipal advisors will be required to participate in testing business continuity and disaster recovery plans.

The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve its slightly revised proposal to lengthen board members’ terms to four years from three.