Washington

The Municipal Securities Rulemaking Board has withdrawn its proposal to loosen the standard of independence for public board members, citing "unexpected opposition."

Broker-dealer practices may change under the Securities and Exchange Commission’s new municipal advisor registration rule, as the rule encourages firms to establish underwriting relationships with issuers early in order to be exempt from registration.

The Treasury Department's current suspension of state and local government series securities, which started on May 17, is the longest in 17 years, the Pew Charitable Trusts said in paper released Thursday.

The Federal government shutdown will leave most agencies overseeing the bond market mostly operational in the near-term, but the municipal advisor rule’s implementation will be delayed and issuers are worried that Build America Bond payments might be cut off or delayed.

The Municipal Securities Rulemaking Board has seated its new board of directors and named municipal advisor regulations as its top priority for the 2014 fiscal year, MSRB announced Tuesday.

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposed rule changes for retail order periods, despite complaints from dealer groups that they will be burdensome and costly.

A new study shows that state and local governments continued to complete their annual financial disclosures at a slow pace of nearly six months after the close of the fiscal year, a longstanding industry complaint that is getting increased attention in the wake of high-profile distress in Detroit and Harrisburg.

Municipal finance industry professionals discussed the importance and process of continuing disclosure practices during The Bond Buyer's California Public Finance Conference.

For the first time in four years, Miami has a budget without declaring a fiscal emergency but the city faces legal hurdles, including a federal lawsuit filed by the SEC.

Should municipal bond issuers be discouraged from disclosing voluntary settlements of tax disputes with the Internal Revenue Service, for fear the SEC will notice the disclosures and then take enforcement action against the issuer for securities fraud violations?