Washington

Default rates are far higher for corporates than for munis with the same ratings, a discrepancy regulators are hoping to address with a rule that takes effect June 15.

A bipartisan coalition of House members has introduced legislation that would require federal banking regulators to treat certain municipal securities held by large banks and other financial institutions as high-quality liquid assets

The Financial Industry Regulatory Authority faced criticism from House Republicans Friday wondered if the broker-dealer self-regulator is too heavy-handed with small firms.

Rep. Rep. Bill Pascrell, who keeps a Lucite encased drinking water pipe in his office as a reminder of the "very serious and urgent" need, has continued to press for his Sustainable Water Infrastructure Investment Act.

U.S. Solicitor General Donald Verrilli has until May 20 to respond to a request from Miami, Fla.'s former budget director that the Supreme Court hear his argument that he should be shielded from a Securities and Exchange Commission lawsuit.

The Municipal Securities Rulemaking Board plans to publish interpretive guidance on its best execution rule no later than July, MSRB chair Kym Arnone said Monday.

Maverick County, Texas, faces an uncertain future after losing the operator of its $42 million private detention center that defaulted on its debt amid a federal corruption investigation and missing audits.

StateTrust Investments, Inc. has been penalized $90,000 and censured by the Securities and Exchange Commission in a settlement over charges it broke Municipal Securities Rulemaking Board rules when it sold Puerto Rico bonds for an amount less than the issuer's specified minimum denomination.

The Municipal Securities Rulemaking Board has released a study outline for its 100 question multiple-choice municipal advisor representative qualification exam, which will be the first mandatory competency exam for professionals giving bond-related advice to state and local governments.

Participants in municipal bond transactions need to clearly identify, document and disclose potential conflicts of interest in order to avoid potential negative ramifications, the National Federation of Municipal Analysts concluded in a new white paper.