Washington

Mary Simpkins, who joined the SEC's Office of Municipal Securities in November 1997, is retiring.

As muni advocates fight for the preservation of tax exemption, foreign investors are using the ASCE Infrastructure Report Card as evidence that increased privatization of assets is needed to improve the grades.

The effects of infrastructure spending and the need for more are coming into focus as the municipal bond community is dealing with a Congressional threat to eliminate the tax-exempt status of munis. 

United First Partners was fined for reporting and supervisory rule violations as part of a wider FINRA disciplinary action involving the firm.

The American Securities Association's federal appeals court case regarding an SEC order has been stayed until Aug. 13.

The American Society of Civil Engineers released its infrastructure report card, which shows that billions spent on infrastructure is having overall positive effects on the condition of the nation's bridges, highways, and ports.

NewEdge Securities was also ordered to pay disgorgement of $750,746 plus interest.

The rating agency cited a tax cut package enacted by the state last year and uncertainty over federal policies for the outlook revision to stable from positive.

Get expert analysis of the May FOMC meeting, inflation outlook, and Powell's comments. Join Wilmington Trust's chief economist Luke Tilley on May 8 at 1 p.m. for key takeaways and forecasts.

Most of Thursday's issuance came from competitive deals, the largest being the Dormitory Authority of the State of New York with $2 billion-plus and California with $889 billion.