Washington

The Securities and Exchange Commission voted 3-2 on Wednesday to require institutional money market mutual funds to adopt a floating net asset value.

The Kansas Public Employees Retirement System is under investigation by the Securities and Exchange Commission for its pension disclosure practices, a probe that began in 2010, according to a KPERS spokeswoman and bond documents.

The Municipal Securities Rulemaking Board on Tuesday filed a revised proposal with the Securities and Exchange Commission to require dealers to provide annual municipal securities training for registered persons who regularly conduct or supervise muni business.

Since the release of the Securities and Exchange Commission's final municipal advisor registration rule in September 2013, the Bond Dealers of America and its members have dedicated significant efforts and resources to work with regulators, educate issuers and ultimately be prepared to make a successful implementation of the rule.

The Municipal Securities Rulemaking Board announced Monday that it has hired David H. Saltiel as chief economist and is also recruiting someone else to lead to a market structure department that it is creating.

Based on two court cases, two former JPMorgan bankers want the SEC's pay-to-play case involving Jefferson County, Ala.'s failed sewer deals dismissed.

Louisiana issuers should take advantage of the SEC's initiative to self-report continuing disclosure lapses, the State Bond Commission urged Thursday.

A Republican congressman is pushing the Securities and Exchange Commission to limit the scope of its disclosure violations self-reporting program to the last two years, warning that if it does not he and other lawmakers may seek a legislative solution.

Four Senators from both sides of the aisle are warning the Treasury Department that the tax consequences of proposed rules could deter state and local governments and businesses from using institutional money market funds for cash management.

Federal Reserve chairwoman Janet Yellen promised a Senator that she would look into concerns that banking regulators' proposed liquidity rules would hurt the municipal market.