Washington

Contracts between dealer firms and public officials show that dealers are engaging in wordplay in an apparent attempt to avoid duties and restrictions placed on them by both federal statute and MSRB rulemaking.

Former U.S. Attorney Mary Jo White was unanimously confirmed by the Senate on Monday to serve as chairman of the Securities and Exchange Commission.

The Municipal Securities Rulemaking Board will hold an on-the-record briefing about municipal securities at a National Press Club luncheon on May 8 to attempt to educate a wider audience of journalists about the municipal market.

Iowa state auditor David Vaudt was named the next chairman of the Governmental Accounting Standards Board, succeeding current chairman Robert Attmore.

Missouri Secretary of State Jason Kander issued a cease-and-desist order against the former Morgan Keegan & Co. Inc. for alleged fraud in its role as underwriter on $39 million of defaulted revenue bonds issued by a Missouri city for a now abandoned artificial sweetener plant.

A federal judge dismissed the most damaging claims in a civil suit against banks accused of manipulating the London Interbank Offered Rate, but experts said it would not impact the market and will likely be appealed.

The Municipal Securities Rulemaking Board should focus its efforts on enhancing the EMMA system and streamlining and clarifying its rules, the Bond Dealers of America and the National Association of Bond Lawyers told MSRB.

The Municipal Securities Rulemaking Board received approval from the Securities and Exchange Commission to expand disclosures of contributions made by municipal securities dealers to bond ballot measure campaigns, the MSRB announced Monday.

The White House on Friday proposed a new "Rebuild America Partnership" program that would allow direct-pay American Fast Forward bonds to be used for any project that can currently be financed with tax-exempt private activity bonds.