Washington

The Securities Industry and Financial Markets Association wants municipal securities transactions to be closed out within 15 days of settlement, rather than the 30 days proposed by the Municipal Securities Rulemaking Board.

The Securities and Exchange Commission on Monday charged a Rhode Island agency, its underwriter, and three individuals associated with $75 million of 2010 bonds for a startup video game company with defrauding investors by not revealing the complete financial status of the company or the extent of the compensation arrangement with the underwriter.

Municipal bond trading volume fell 13% during 2015 while the overall number of trades remained relatively stable, continuing a pattern that stretches back to 2007, according to data released Thursday by the Municipal Securities Rulemaking Board.

John Fechter, managing director and head of taxable trading at Wells Fargo Advisors in St. Louis, Mo., has been chosen to chair Bond Dealers of America this year by the group's members.

The Municipal Securities Rulemaking Board announced Wednesday it is pushing back the effective date for several amendments to its trade reporting rule to July 18 from May 23 to align them with the date for similar Financial Industry Regulatory Authority requirements.

The Municipal Securities Rulemaking Board filed proposed amendments to two rules with the Securities and Exchange Commission late Tuesday in an effort to move the municipal securities market to a two- instead three-day settlement cycle.

Reps. Randy Hultgren, R-Ill., and Dutch Ruppersberger, D-Md., have launched a Municipal Finance Caucus made up of House members from both political parties who will fight to protect the tax-exempt status of municipal debt and ensure there is a robust market for municipal securities.

Understanding your culture is a priority for the Financial Institution Regulatory Authority. While some doubt FINRA can do this, there are steps your firm can take to demonstrate adherence to rules and regulations that have an impact on the objective "indicators" of FINRA's cultural assessment.

Lisa Washburn, the new chair of the National Federation of Municipal Analysts, wants NFMA this year to become more proactive in collaborative industry efforts to improve municipal bond disclosure and address changes in the municipal market.

Several industry groups are telling the Securities and Exchange Commission they support Municipal Securities Rulemaking Board changes that would shift the board members’ term limits to four years from three.