Washington

The Treasury Department's Antonio Weiss and Puerto Rico Gov. Alejandro Garcia Padilla will testify on Thursday before a Senate Committee on the territory's economy, debt and options that should be considered by Congress.

South Carolina’s Tuomey Healthcare System has negotiated a reduced settlement of $72.4 million with the Justice Department for filing 21,000 false Medicare claims.

The Municipal Securities Rulemaking Board is extending the date for comments on its recently proposed markup disclosure rule while an industry group wants the board to delay the implementation deadline for its best execution rule.

The Municipal Securities Rulemaking Board’s proposed changes to extend its gift rule to municipal advisors “remain unclear in crucial areas” and “do not go far enough to prevent abuses” by both MAs and broker-dealers, the National Association of Municipal Advisors said.

Landolt Securities, Inc. has been ordered by the Financial Industry Regulatory Authority to pay $20,000 for violating municipal trade reporting, books and records, and supervisory rules.

Christopher Brogdon, who was at the center of more than a dozen problematic healthcare municipal bond deals for which at least $2 million was unaccounted for, will resign from the board of healthcare firm AdCare.

The Municipal Securities Rulemaking Board plans at its quarterly meeting next week to discuss its proposal to require dealers to disclose on retail customer confirmations the markups and markdowns on principal transactions.

Securities and Exchange Commission officials updated National Association of Municipal Advisors members here on the status of the commission’s municipal advisor examinations and fielded individual questions about continuing compliance with the program.

The Financial Industry Regulatory Authority ordered San Juan-based Santander Securities on Tuesday to pay $6.4 million for supervisory failures related to Puerto Rican municipal bonds.

Middle-market securities dealers need to redouble efforts to make their voices heard as regulators prepare to tighten the reins on the muni market, Bond Dealers of America members said.