Washington

Broker-dealers charged billions of dollars in excessive markups on municipal bond trades from 2005 to 2013, according to a new study.

The Municipal Securities Rulemaking Board has filed with the Securities and Exchange Commission a rule to establish a database for 529 college savings plans.

The Securities and Exchange Commission has charged the leader of a Detroit-based investment advisor for stealing nearly $3.1 million from a pension fund that his firm manages for the city's police officers and firefighters.

Testimony by former Treasurer Martha Shoffner is under review by lawmakers for possibly perjury following her indictment on 14 federal charges.

The Federal Bureau of Investigation Tuesday raided the offices of Sen. Ron Calderon, D-Montebello, according to local reports.

The Securities and Exchange Commission is asking market participants to help it craft a definition of retail money market funds as part of a set of reforms that it proposed Wednesday.

Securities and Exchange Commission members on Wednesday unanimously agreed to propose reforms for money market funds, which muni market participants greeted with mixed reaction.

The GASB on Monday approved a proposed exposure draft on measurements for government financial statements and a preliminary views document on fair value accounting measurements.

Panelists at a conference here on Monday warned issuer officials to be wary of dealer contracts that might violate municipal securities rules and to make sure they are using properly registered municipal advisors.

Underwriter disclosure letters required under the Municipal Securities Rulemaking Board's fair dealing rule continue to cause confusion and apprehension among issuers, members of the Government Finance Officer's Association's debt committee said at a meeting on Saturday.