Washington

A trio of convicted bid riggers deserve prison terms of more than 16 years as well as hundreds of thousands of dollars in fines when they face a judge in July, according to the government's sentencing recommendations.

Securities and Exchange Commissioner Elisse Walter said Monday that despite great progress made in recent years in the regulation of fixed-income securities markets, secondary market disclosure must improve.

Harrisburg, Pa., Mayor Linda Thompson must overcome bad poll numbers in her re-election bid as the capital city's woes provide a Democratic primary backdrop.

Former three-term Republican U.S. Senator Judd Gregg, the Securities Industry and Financial Markets Association's new chief executive officer, said Monday that he wants to improve the image of the industry and make sure Dodd-Frank rules are focused and not overly burdensome.

The Securities and Exchange Commission's Office of Municipal Securities has added two members to its staff, SEC muni chief John Cross announced Monday.

Arkansas State Treasurer Martha Shoffner was arrested Friday by the FBI on a charge of public corruption dealing with extortion.

The House approved on Friday legislation requiring the Securities and Exchange Commission to perform cost-benefit analysis of its regulations, which Republicans characterized as common sense and Democrats decried as an attempt to weaken federal oversight.

Securities and Exchange Commission chairman Mary Jo White told lawmakers Thursday that unfinished Dodd-Frank Regulations are a top priority, and that the SEC needs tough enforcement penalties to maintain order over an increasingly complex market landscape.

The Financial Industry Regulatory Authority fined five firms nearly $200,000 for violations of municipal securities rules, and ordered that they pay many thousands more in customer restitution.

While current and former SEC officials say the agency could only do so much in its securities fraud case against Harrisburg, Pa., that didn't set well with critics.