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A federal judge has ordered seven defendants to disgorge millions in ill-gotten gains and imposed other administrative penalties stemming from a pay-to-play case involving the New York State Common Retirement Fund.
March 11
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Bankers and dealers told the Municipal Securities Rulemaking Board that a blanket ban on principal transactions by firms acting as municipal advisors is unworkable, but non-dealer MAs disagreed in comments filed Monday.
March 10
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The Securities and Exchange Commission on Monday announced an initiative to encourage issuers and underwriters of municipal securities to self-report certain violations of the federal securities laws rather than wait for their violations to be detected.
March 10
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The sentencing of municipal bond bid-rigger David Rubin has been postponed to 3:30 p.m. March 12.
March 7 -
Securities and Exchange Commission member Michael Piwowar has asked the staff of the Office of Municipal Securities to give him some proposals that he can push through the SEC to improve price transparency in the municipal market.
March 7
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The sentencing of CDR Financial Products founder David Rubin for his role in muni bond bid-rigging has been postponed from Thursday to 11 a.m. Friday in New York.
March 5 -
The Municipal Securities Rulemaking board has increased the fees it charges for several of its data subscription products and services.
March 3 -
Rep. Dave Camp's tax reform proposal would provide some additional revenue stability to the beleaguered island, and the controversial discussion draft is welcomed by the commonwealth's representative in Congress and others working to advance the territory's interests.
February 28
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The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposal to consolidate its multiple registration requirements and forms for municipal securities dealers and municipal advisors.
February 28
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Justice Department lawyers have filed new documents to support their argument that convicted bid-rigger David Rubin should face a stiff penalty for his crimes because the kickbacks he received as part of the scheme caused real loss to municipal issuers.
February 27
