News & Analysis as of

Enforcement Actions Municipalities

Goodwin

SEC Continues Scrutiny of Municipal Bond Offerings

Goodwin on

​​​​​​​The SEC recently brought fraud charges against Sterlington, Louisiana and its former mayor and separately against Rochester, New York and its former executives and Rochester’s municipal advisors and principals/owners...more

Dechert LLP

Fresh Air and Fresh Start: Are Environmental Regulatory Penalties Dischargeable?

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Two courts recently answered “yes,” finding that environmental claims brought against reorganized debtors by government entities were discharged under confirmed Chapter 11 plans of reorganization. In In re Exide Techs., 613...more

Best Best & Krieger LLP

“Home Rule” Authority and Local Police Involvement in Immigration Enforcement

California Appellate Court Says Charter City Cannot Block California Values Act - In a significant decision addressing the tension between charter city “home rule” authority and state law, a California appellate court...more

Farrell Fritz, P.C.

Town Takes Trailer: Enforcing Zoning Ordinance against Unresponsive Violators

Farrell Fritz, P.C. on

In Town of Brookhaven v Golemi, 2019 NY Slip Op 51477(U) [Sup Ct, Suffolk County 2019], the Town of Brookhaven (“Brookhaven”) successfully sought and obtained injunctive relief to remove a structure that violated Brookhaven’s...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - September 2019

Robinson & Cole LLP on

The Wolcott school system in Wolcott, Connecticut has been recovering for four months from a ransomware attack that hit its system at the end of the school year. Last week, it was hit with a second attack. According to...more

Womble Bond Dickinson

Manufacturers, Airports And More Take Note, North Carolina Ratchets Up PFAS Testing

Womble Bond Dickinson on

Current or past sources of emerging contaminants should be aware that the North Carolina Department of Environmental Quality has ordered that publicly owned treatment plants (POTWs) in the Cape Fear River Basin test their...more

Hudson Cook, LLP

Fair Lending Developments: Wrestling with Causation

Hudson Cook, LLP on

The past year saw the lower courts wrestle with the aftermath of the U.S. Supreme Court’s decision in Bank of America Corp. v. City of Miami that, like the Court’s previous ruling in Texas Department of Community Affairs v....more

Best Best & Krieger LLP

Simultaneous Federal and State Court Actions on Code Violations? - Ninth Circuit Says Yes… In Rare Instances

The City of Palmdale received a civil inspection warrant to investigate a family-operated motel for alleged violations of both state and local laws....more

Orrick, Herrington & Sutcliffe LLP

SEC Continues Public Finance Enforcement Agenda Two Recent Cases Filed

Just in the last weeks of August, the Public Finance Abuse Unit of the Enforcement Division of the Securities and Exchange Commission (SEC) announced settlements of securities fraud actions involving a city, an underwriter, a...more

Ruder Ware

Forfeitures for Ordinance Violations - When Are They Excessive?

Ruder Ware on

An age-old problem faced by municipal officials is what to do about residents and landowners who fail to take care of their properties and allow junk, debris, and other unsightly items to accumulate.  This often leads to...more

McNees Wallace & Nurick LLC

SEC Announces Enforcement Actions Against 71 Municipal Issuers

The Securities and Exchange Commission (SEC) recently announced enforcement actions against 71 municipal issuers of bonds in connection with the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative. The...more

Bracewell LLP

SEC Announces 71 Issuer MCDC Settlements

Bracewell LLP on

On August 24, 2016, the SEC announced that it had entered into settlement orders with 71 municipal issuers and other obligated persons for violations of federal securities laws in municipal bond offerings. The issuers and...more

Cozen O'Connor

SEC Charges 71 Issuers under its Municipalities Continuing Disclosure Cooperation Initiative

Cozen O'Connor on

On August 24, 2016, the Securities and Exchange Commission (SEC) announced enforcement actions against 71 municipal issuers and other obligated persons (collectively, the municipal issuers) under the SEC’s Municipalities...more

Dechert LLP

SEC Announces Further Enforcement Actions in the Municipalities Continuing Disclosure Cooperation Initiative

Dechert LLP on

The U.S. Securities and Exchange Commission (SEC or Commission) announced enforcement actions against 22 municipal underwriters on September 30, 2015, as part of its Municipalities Continuing Disclosure Cooperation Initiative...more

Eversheds Sutherland (US) LLP

SEC Announces Second Round of Charges Against Underwriters Under MCDC Initiative

On September 30, the Securities and Exchange Commission (SEC) announced enforcement actions against 22 municipal bond underwriters, the second round of enforcement actions brought by the SEC under the Municipalities...more

Foley & Lardner LLP

SEC Turns Up the Heat on Issuer Officials

Foley & Lardner LLP on

Two recent SEC enforcement actions demonstrate that the Securities and Exchange Commission remains intently focused on the municipal market and, in particular, on officials participating in financings that fail to accurately...more

Burr & Forman

Court Sets Aside SEC’s First Muni “Control-Person” Settlement

Burr & Forman on

Earlier this month, the SEC used a “control-person” charge in a settled action against an elected municipal official in connection with municipal bond offering. Enforcement touted that “first” on the Monday after: “An...more

Bracewell LLP

Participation Not Required: SEC Charges Mayor as Control Person in Municipal Bond Offering

Bracewell LLP on

In an unprecedented exercise of its authority to charge municipal officials with “control person” liability, the Securities and Exchange Commission (SEC) recently announced fraud charges against the City of Allen Park,...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Burr & Forman

SEC Approves Supervision & Compliance Rule for Municipal Advisors

Burr & Forman on

The SEC last week approved new MSRB Rule G-44 implementing supervision and compliance requirements for municipal advisors. The MSRB touted the Rule as “its first dedicated rule for municipal advisors” under the Dodd-Frank...more

Dorsey & Whitney LLP

SEC Brings Another Bond Case Against A State

Dorsey & Whitney LLP on

The SEC’s nationwide review of municipal bond disclosures yielded another enforcement action, this time against the state of Kanas. The Order centers on claims that the state failed to disclose its huge unfunded pension...more

Mintz - Securities & Capital Markets...

Two Observations From the SEC’s First Settlement Under its Municipalities Continuing Disclosure Cooperation Initiative

Just yesterday, the SEC announced its first settlement pursuant to its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative. ... Here are two observations on this settlement that could shed some light on...more

Mintz - Securities & Capital Markets...

SEC Enforcement Staff’s Investigations of Financially Stressed Municipal Issuers

As reported by the Wall Street Journal, the SEC Enforcement Staff is one year into a wide-ranging review of disclosures made by financially stressed municipal bond issuers. This review has focused on whether municipalities...more

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