Tesia Stanley

Tesia Stanley

Ballard Spahr LLP

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SEC Charges City Mayor as a Control Person in Allen Park, Michigan, Enforcement Action

Thursday, the Securities and Exchange Commission (SEC) announced fraud charges against the City of Allen Park, Michigan (City), and two of its former officials—the former City Mayor and former City Administrator. It is the...more

11/10/2014 - Economic Development Enforcement Actions Fraud Joint and Several Liability Municipal Bonds Municipalities P3s Public Officials Public-Private Partnerships SEC Securities Exchange Act

MCDC Issuer Deadline is December 1. Are You Prepared?

The deadline for municipal issuers and obligated persons to self-report to the Securities and Exchange Commission (SEC) under its Municipal Continuing Disclosure Compliance (MCDC) Initiative any recent misstatements in...more

10/14/2014 - Deadlines Filing Deadlines MCDC SEC

Industry Concerns Prompt SEC To Modify MCDC Initiative

In response to concerns raised by industry participants, the Securities and Exchange Commission (SEC) has made some modifications to its Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The SEC...more

8/1/2014 - Disclosure Requirements MCDC Municipal Securities Issuers Policy Violations SEC Securities Securities Act of 1933 Securities Exchange Act Self-Reporting Trade Associations Underwriting

MSRB Seeks Second Round of Comments on Municipal Advisor Conduct Rule

The Municipal Securities Rulemaking Board (MSRB) recently released a revised draft of Rule G-42 (Draft Rule G-42) following receipt of more than 40 comments on its Initial Draft Rule in January 2014. Rule G-42 regulates...more

7/30/2014 - MSRB Municipal Advisers Rule G-42 Rulemaking Process

SEC Issues First MCDC Cease and Desist Order

Yesterday, the Securities and Exchange Commission (SEC) announced its first cease and desist order under its Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The MCDC Initiative was introduced on...more

7/10/2014 - Cease and Desist Disclosure Requirements MCDC Misrepresentation Municipalities SEC

SEC Announces First Investment Adviser ‘Pay-to-Play’ Enforcement Action

The U.S. Securities and Exchange Commission (SEC) announced its first enforcement action under "pay-to-play" rules for investment advisers since those rules were adopted nearly four years ago. TL Ventures Inc., a...more

6/25/2014 - Campaign Contributions Enforcement Enforcement Actions Fees Investment Adviser PACs Pay-To-Play Pensions Private Equity SEC

SEC Enforcement Division Encourages Self-Reporting by Municipal Securities Issuers and Underwriters

Yesterday, the Securities and Exchange Commission’s (SEC) Enforcement Division introduced an initiative to encourage self-reporting by municipal securities issuers and underwriters of possible securities law violations...more

3/12/2014 - Municipal Securities Market Municipalities SEC Self-Reporting

MSRB Proposes Municipal Advisor Supervision Rule

Yesterday, the Municipal Securities Rulemaking Board (MSRB) issued a request for comment on a supervision rule for municipal advisors, draft Rule G-44. The proposed rule contains similar concepts to Rule G-27, the MSRB’s...more

2/27/2014 - Broker-Dealer MSRB Municipal Advisers

2013 Review: SEC Municipal Market Enforcement Actions

In 2013, the Securities and Exchange Commission sought to demonstrate its resolve in enforcement by bringing more selective cases with a greater yield in financial penalties. Indeed, the SEC recently announced that its 2013...more

1/27/2014 - Compliance EMMA Enforcement Enforcement Actions MSRB SEC

Additional Pay-to-Play Disclosure Required of Municipal Securities Dealers

Brokers, dealers, and municipal securities dealers are now required to disclose additional information about their bond ballot contributions under amendments to the Municipal Securities Rulemaking Board’s (MSRB) “pay-to-play”...more

7/2/2013 - Bonds Disclosure Requirements MSRB Municipalities New Amendments Pay-To-Play Political Contributions

SEC Fraud Charges against Harrisburg, Pa., Have Implications for Secondary Market Disclosures

The Securities and Exchange Commission (SEC) recently charged the City of Harrisburg, Pennsylvania (the City), with misleading investors about its financial health in the annual State of the City Address, as well as in its...more

5/10/2013 - Disclosure Requirements EMMA SEC Secondary Markets

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