Washington

The Securities Industry and Financial Markets Association's municipal securities division will honor Kenneth D. Gibbs, president of the Municipal Securities Group of Jefferies LLC, with its 2014 Honor Roll Award at a luncheon Tuesday in New York City.

The Securities and Exchange Commission's unprecedented enforcement action against a former municipal official earlier this week in a case involving Allen Park, Mich. should make public leaders aware and cautious, legal experts and issuer officials said Friday.

The Fix LA Coalition, an effort spearheaded by labor unions and its allies, wants Los Angeles City Attorney Mike Feuer to file a regulatory complaint against the underwriters involved in 2006 interest rate swaps saying the risks weren't disclosed.

The city of Allen Park, Mich., is preparing to refinance up to $28 million of bonds that were the target of fraud charges and a recent settlement by the Securities and Exchange Commission.

President Obama has appointed Jerry Abramson, who formerly served as both Mayor of Louisville, Ky. and president of U.S. Conference of Mayors, as White House liaison to state and local governments.

Long-term public municipal issuance volume reached $71.8 billion, down by 13.6% from the previous quarter, but up by 5.2% from a year ago, according to the third-quarter Municipal Credit Report by Securities Industry and Financial Markets Association Thursday.

The Securities and Exchange Commission has charged Allen Park, Mich., and two former city leaders with fraud in connection with a municipal bond offering to support a movie studio project within the city.

Having consolidated control of both the House and Senate for the first time in eight years, Republicans on Wednesday vowed to end the gridlock and begin passing legislation early next year. President Obama urged Congress to move forward with corporate tax reform to help pay for infrastructure improvements – an issue that has some bipartisan support.

The National Federation of Municipal Analysts has released the first part of a new set of best practices for general obligation bond disclosure that includes separate criteria for state and local securities.

Sen. Richard Shelby, R-Ala., the next likely chairman of the Senate Banking Committee following the Republican takeover of the chamber, is expected to push for greater oversight of the Securities and Exchange Commission and to oppose Federal Reserve policy.