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Rep. Steve Stivers, R.-Ohio, introduced a bill Friday that would define municipal advisors as those engaged with a municipal issuer to provide financial advice for compensation, with exceptions from the definition and its fiduciary duty for members of governmental boards, underwriters, bankers, swap dealers and those that provide related advice.
February 15 -
The Financial Stability Oversight Council lacks legal authority to recommend additional money market fund regulations, which have been opposed by a variety of municipal market participants, say industry and business advocacy associations in recently filed comment letters.
February 15 -
The Municipal Securities Rulemaking Board has filed proposed rule changes with the Securities and Exchange Commission that would require dealers to disclosure more information about contributions to issuers' bond ballot campaigns and resulting underwriting agreements.
February 14 -
Appointed members of state and local governmental boards will likely be exempted from the Securities and Exchange Commission's final definition of municipal advisor, which is expected to be released early this year, the SEC chairman said Thursday.
February 14 -
Market participants say munis are key to reaching the infrastructure goals laid out in President Obama's State of the Union Address, but caution that cuts to munis' tax benefits could make it difficult to fund the large-scale projects Obama described.
February 13 -
President Obama is not targeting municipal bonds in his proposal to cap the value of tax exclusions and deductions at 28%, Jack Lew, his nominee for Treasury Secretary told lawmakers Wednesday.
February 13 -
Lawyers for three former bankers convicted of rigging bids for municipal bond reinvestment contracts have pinned their appeals partly on circumstances surrounding the testimony of cooperating witness Adrian Scott-Jones, who abruptly left the courthouse during a day of testimony, and never returned.
February 12 -
The MSRB's Jay Goldstone reminded that comments on its review of its rules and interpretive guidance rule changes are due Feb. 19, asking commenters to offer specific suggestions and critiques.
February 12 -
Rep. Steve Stivers, R-Ohio, will introduce legislation in the coming days similar to a municipal advisor bill that passed the House last September.
February 11 -
Municipal market groups have mixed views about a Municipal Securities Rulemaking Board proposal to require underwriters to file preliminary official statements on the EMMA system.
February 11
