Washington

The Municipal Securities Rulemaking Board is working with the Securities and Exchange Commission’s Investor Advocate to identify areas in the muni market that could hurt retail investors.

Municipal market participants want to know why it has taken securities regulators so long to stop Christopher Brogdon from swindling investors by misusing for personal gain the proceeds of bonds and private placements that were supposed to finance the purchase and renovation of senior living facilities.

The Municipal Securities Rulemaking Board's proposed rule changes to lengthen its board members' terms to four years from three has garnered general support from dealer and advisor groups as well as the Securities and Exchange Commission's Office of the Investor Advocate.

The Securities and Exchange Commission has obtained an emergency freeze of the assets of an Atlanta-based businessman and filed a lawsuit charging him and his associates with fraud for misusing investor proceeds that were intended to be used to purchase and renovate senior living facilities.

Two Senators have introduced a bipartisan bill that would allow tax-exempt private-activity bonds to be used to help power plants and industrial facilities finance projects to capture and store carbon dioxide.

The Municipal Securities Rulemaking Board released its much-anticipated best execution guidance for dealers on Friday, providing answers to frequently asked questions about the rule as well as the exemption for sophisticated municipal market professionals.

Justin Pica plans to leave the Municipal Securities Rulemaking Board next month after more than 15 years to join the Securities and Exchange Commission’s trading and markets division in January.

Municipal market trading plummeted to $551 billion in the third quarter, the lowest level since at least 2005 when the Municipal Securities Rulemaking Board began recording the statistics, according to the board.

The Navajo Nation closed its first-ever bond transaction this week when it sold $52.9 million of investment-grade general obligation bonds in a private placement.

President Obama has nominated Hester Maria Peirce to become a Securities and Exchange Commission member for a five-year term ending on June 5, 2021, in addition to serving the remainder of former Commissioner Daniel Gallagher’s term through June 6 of next year.