Washington

The Securities and Exchange Commission on Thursday announced the topics it plans to cover during its April 16 Roundtable on Fixed Income Markets, with two of the four panels to focus on municipal securities.

The Securities Industry and Financial Markets Association has issued a best practice paper recommending that underwriters disclose in official statements when issuers designate firms to serve as underwriter's counsel.

Municipal market participants said Tuesday that while they appreciate the Municipal Securities Rulemaking Board’s attempt to clarify underwriter disclosure requirements under its fair dealing rule, more guidance is needed before the rule can fulfill its intended purpose.

The Municipal Securities Rulemaking Board has released guidance in response to confusion about underwriters' disclosures to issuers required under its fair dealing rule.

One treasurer on Friday worried that the Securities and Exchange Commission is planning to examine most state pension disclosures in bond documents, while another said small issuers want more guidance for competitive bond sales.

The National Association of State Treasurers said it is committed to defending existing tax policy on municipal bonds, even though doubts about the status of private activity bonds showed during the group's legislative conference.

The Senate Banking Committee voted 21-1 to recommend the full Senate confirm President Obama's nominee Mary Jo White as Securities and Exchange Commission chairman. Sen. Sherrod Brown, D-Ohio, cast the lone vote against her.

The Senate Banking Committee voted to recommend the full Senate approve the appointment of Mary Jo White as SEC chair.

Four firms agreed to pay $105,000 in fines for violations of pricing, political contribution, supervisory and other rules of the Municipal Securities Rulemaking Board.