In the first half of 2024, the Financial Industry Regulatory Authority (FINRA) issued several fines and suspensions against participants in the municipal market, including for violations of its registration, reporting,...more
7/26/2024
/ Broker-Dealer ,
Department of Justice (DOJ) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
MSRB ,
Municipal Securities Market ,
Proposed Rules ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
2023 MID-YEAR REVIEW -
In the first half of 2023, several rule changes have been proposed by the Municipal Securities Rulemaking Board (MSRB) and the U.S. Securities and Exchange Commission (SEC), including changes to...more
8/1/2023
/ Broker-Dealer ,
Cybersecurity ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Financial Industry Regulatory Authority (FINRA) ,
MSRB ,
Municipal Securities Issuers ,
Municipal Securities Market ,
SASB ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation
As is widely known, the new issue market slowed down in 2022 due to a variety of factors, including rising interest rates, reduced institutional demand resulting from municipal bond fund outflows, inflation and recession...more
The municipal securities market carried its momentum from the first half of 2021 into a strong finish for the year against the backdrop of continued regulatory and enforcement actions. Despite new variants of COVID-19...more
The Federal Reserve Bank of New York (the New York Fed) has announced an expansion of its $500 billion Municipal Liquidity Facility to allow participation by designated cities and counties that do not meet the population...more
Given the far-reaching consequences of the COVID-19 pandemic, including unprecedented financial and operational impacts, volatile municipal market conditions and the potential for a significant economic contraction...more
Disclosure to municipal bond investors of material risks stemming from the coronavirus outbreak presents a serious concern in the municipal securities industry. This is particularly true in certain sectors, including bonds...more
3/12/2020
/ Airports ,
Amusement Parks ,
Assisted Living Facilities (ALFs) ,
China ,
Contract Terms ,
Cooperative Compliance Regime ,
Coronavirus/COVID-19 ,
Disclosure Requirements ,
Due Diligence ,
Force Majeure Clause ,
Foreign Suppliers ,
Government Bonds ,
Health Care Providers ,
Hospitals ,
Infectious Diseases ,
Investors ,
Manufacturing Facilities ,
Municipal Bonds ,
Municipal Securities Issuers ,
Municipal Securities Market ,
Municipalities ,
Public Finance ,
Public Transit ,
Senior Housing ,
Service Contracts ,
Supply Chain
Beginning February 27, 2019, municipal market issuers and obligated persons must add the following two new events—relating to their indebtedness and financial health—to the list of reportable events in their continuing...more
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