Washington

The Administration has concluded that, as part of a comprehensive approach to Puerto Rico's crisis, a tested federal bankruptcy regime is necessary.

Financial Industry Regulatory Authority chairman and chief executive officer Richard Ketchum announced Friday he will retire in the second half of 2016.

The Municipal Securities Rulemaking Board answered dealer questions and provided guidance on its proposal to require dealers acting to disclose markups and markdowns.

Justin Underwood will join Bond Dealers of America on Nov. 16 as federal policy advisor.

The Government Finance Officers Association's executive board recently approved two updated disclosure best practice documents designed to help issuers meet their bond-related disclosure requirements while considering the possibilities of website-based and voluntary disclosures.

Issuers should monitor bond activity for compliance violations, an IRS tax law specialist said at a Bond Buyer conference in Providence, R.I.

The Municipal Securities Rulemaking Board may be able to publish guidance on its best execution rule as early as next month, MSRB officials said Monday.

Rating agencies are continuing to treat municipal issuers unfairly even though federal law required that practice to stop, former California Treasurer Bill Lockyer said.

President Barack Obama on Wednesday nominated Hester Peirce to finish Daniel Gallagher’s term until June 5, 2016, and Lisa Fairfax to replace Luis Aguilar for a five-year term to the Securities and Exchange Commission.

A proposed House bill to treat investment grade and actively traded municipal securities as high quality liquid assets received support from members of a House Financial Services Committee panel as well as banking experts during a hearing on Wednesday.