David Y. Bannard

David Y. Bannard

Foley & Lardner LLP

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IRS Releases Favorable Private Business Use Rules for Facilities Financed With Tax-Exempt Bonds

On October 24, 2014, the IRS released Notice 2014-67, which establishes more favorable safe harbors for types of service contracts and other arrangements using property financed with tax-exempt bonds. The Notice also provides...more

10/29/2014 - Bonds IRS Safe Harbors Service Contracts Tax Exemptions Tax-Exempt Bonds

The MCDC Initiative and Recent Modifications: Window for Issuers and Obligated Persons Now Closes on December 1, 2014, While...

As highlighted in the SEC’s 2012 Municipal Market Report, the SEC has expressed significant concern that many issuers have not been complying with their obligation to file continuing disclosure documents and that federal...more

8/6/2014 - Deadlines Disclosure Requirements EMMA Enforcement MCDC Municipal Bonds Municipal Securities Issuers Municipalities SEC Underwriting

SEC's MCDC Initiative - The Clock is Ticking

Not-for-profit health care providers that have borrowed on a tax-exempt basis within the last five years should be aware of the Securities and Exchange Commission’s (SEC) Municipalities Continuing Disclosure Cooperation...more

7/15/2014 - Compliance MCDC Non-Profits SEC Tax Exemptions

The MCDC Initiative: Window Closes on September 10, 2014

As highlighted in the SEC’s 2012 Municipal Market Report, the SEC has expressed significant concern that many issuers have not been complying with their obligation to file continuing disclosure documents and that federal...more

6/9/2014 - Compliance Disclosure Requirements Enforcement Enforcement Actions False Statements SEC

The SEC’s Municipal Advisor Rule Will Prompt New Practices for Market Participants

A new rule will take effect on July 1, 2014 that regulates persons and firms that provide advice to municipal issuers and obligated parties regarding municipal financial products or the issuance of municipal securities....more

2/14/2014 - Compliance Dodd-Frank MSRB Municipal Advisers SEC

Where to Look: Governmental Sources of Funding for Emerging Companies

Young companies are always looking for sources of capital, but many are unaware of funding sources provided by governmental programs. These programs are typically targeted at specific sectors and are intended to create jobs...more

1/6/2014 - Emerging Growth Companies Funding Small Business Startups

City of Harrisburg Settles With SEC on Rule 10b-5 Violations

Recently, the SEC settled with the City of Harrisburg (City) over violations of Rule 10b-5 in connection with material misstatements and omissions made by the City in its public statements and financial information, during a...more

5/15/2013 - Disclosure Rule 10b-5 SEC Settlement

New SEC Chair: What It May Mean for the Municipal Securities Market

Participants in the municipal securities market should take particular interest in the appointment of Elisse B. Walter as chair of the SEC. Her close association with regulation of the municipal securities market makes it...more

12/18/2012 - Dodd-Frank Elisse B. Walter MSRB Municipal Securities Market SEC

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