SIFMA Pushes for Higher Muni Trading Standard
The industry group is asking the Municipal Securities Rulemaking Board to follow its suggestions for the good of investors.
MSRB Warns Investors, BDs About Sequestration’s Impact on Direct-Pay Bonds
The MSRB warned investors Wednesday to be aware of the terms of certain types of direct-pay municipal bonds to better understand any potential impact the federal sequestration has on them.
SEC, FINRA Enforcement: Father, Son Cherry-Picking Scheme; South Miami in Muni-Bond Fraud
Recent enforcement actions include charges against a father and son for making undeclared trades and then cherry-picking the profitable ones, and charges against the city of South Miami for defrauding investors on muni bonds.
MSRB (Still) Awaits SEC Muni Advisor Rule; Plans EMMA 2.0
Three years after passage of the Dodd-Frank Act, the Municipal Securities Rulemaking Board is still waiting for the SEC to issue its rule defining who is a municipal advisor.
New Hire Roundup: LPL Financial Welcomes Lochan
This week in new hires, Brendt Stallings and Husam Nazer joined DoubleLine, the MSRB board announced that it is looking for a few good applicants, and Citi named two new co-presidents.
SEC, FINRA Enforcement Roundup: Schwab's BrokersXpress Hit With Another Fine
FINRA and the SEC recently took action against a number of firms for everything from fraud to supervisory failure that in some cases cost the firms dearly.
Goldman Sachs Agrees to Pay $12 Million for Pay-to-Play Violations
SEC says Goldman fine is the biggest it has levied for MSRB pay-to-play violations, this one involving undisclosed contributions to a political candidate a Goldman banker was soliciting for business.
MSRB Names Goldsholle General Counsel
Goldsholle, currently with FINRA, will oversee legal activities including market regulation, professional qualifications, enforcement support and corporate governance.
SEC Issues Risk Alert on Pay-to-Play Practices
Just in time for election season, the SEC issued Friday an alert to strengthen compliance with an MSRB rule that limits political contributions by municipal securities professionals to campaigns of public officials.
4 Strikes Against Municipal Bonds
It’s easy to contrast the muni-bond market of 2008 with today’s landscape – but there are significant differences.