Washington

Eight state and local groups are urging federal banking regulators to classify investment-grade munis with demonstrated liquidity as high-quality liquid assets.

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposal to require dealers to train certain individuals annually on municipal securities issues.

The Securities and Exchange Commission said that new technology and investigative techniques led to a strong fiscal 2014 enforcement year, including municipal bond cases.

Public officials who have traditionally believed that they are safe from Securities and Exchange Commission action if they avoid exchanges of favor should think again in the face of increased SEC focus on anti-corruption efforts, former commission enforcement lawyer Peter Chan said.

Investment grade bonds of issuers and obligors with at least $100 million of securities outstanding should qualify as high-quality liquid assets under federal banking rules, the Securities Industry and Financial Markets Association told regulators in a just-released letter.

The Financial Industry Regulatory Authority fined two firms a total of $28,500 for violations of municipal securities rules, including excessive markups and trade reporting failures.

Delivery of the Official Statement satisfies MSRB Rule G-32 - but not the new Time-of-Trade Disclosure Rule, MSRB Rule G-47.

Texas Attorney General Greg Abbott reached a settlement with Houston-area financial advisor R. Craig Rathmann, accused of colluding with RBC Capital Markets to limit competition on bond deals for municipal utility districts.

Gary Goldsholle will leave his post as general counsel at the Municipal Securities Rulemaking Board after serving just over two years, according to multiple sources.

Inspections of municipal advisors will be low-stress and MAs will be notified in advance before seeing any Securities and Exchange Commission personnel at their doors, members of the SEC's Office of Compliance Inspections and Examinations told non-dealer advisors.