Municipal Bonds

SEC Charges City of Harrisburg with Fraud

by Michael Wiener | Holland & Knight LLP on 5/14/2013

On Monday, May 6, 2013, the Securities and Exchange Commission (SEC) charged the city of Harrisburg, Pennsylvania with securities fraud "for its misleading public statements when its financial condition was deteriorating and...more

SEC Charges Municipal Bond Issuer with Securities Fraud for Misleading Statements on Issuer’s Website

by Michael Barnes, George Magnatta | Saul Ewing LLP on 5/9/2013

For the first time, the Securities and Exchange Commission has charged a municipality with securities fraud for misleading statements made outside of the municipality's securities disclosure documents....more

New Swap Business Conduct and Record-Keeping Regulations Kick in for Municipal Bond Issuers and Borrowers

by Nicholas Bentley, Meghan Burke, Charles Carey, Steve Ganis, Gregory Sandomirsky, Len Weiser-Varon | Mintz Levin - Public Finance on 4/18/2013

Beginning May 1, 2013, many new business conduct regulations adopted by the Commodity Futures Trading Commission (“CFTC”) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) will begin to...more

Bill on Bankruptcy: Stockton May Win the Battle, Lose the War [Video]

by Bloomberg Law on 4/3/2013

April 2 (Bloomberg Law) -- Although Stockton, California established the right to be in a Chapter 9 municipal bankruptcy, the judge warned the city that victory may be short-lived if bondholders prove that pensioners must...more

Sequestration to Reduce Government Payments to Issuers of Certain Qualifying Bonds

by Dickinson Wright on 3/27/2013

March 2013 On March 1, 2013, $85 Billion in automatic reductions in federal spending occurred as mandated by federal law. The automatic budget cuts are known in the parlance of the Beltway as “sequestration.” For issuers of...more

Tax-Exempt Financing Provisions on the Table as Congress Considers Tax Reform

by Kathleen M. Nilles, Kenneth W. Parsons | Holland & Knight LLP on 3/26/2013

Recent legislative discussions concerning tax reform have included the potential elimination of several federal provisions long considered sacred to state and local governments and untouchable by federal policymakers. Those...more

Investing In Georgia: Economic Development Newsletter - February 2013

by King & Spalding on 2/27/2013

In This Issue: Welcome to King & Spalding's economic development news bulletin,Investing in Georgia. In this edition, you will find: - An overview of the sequester, debt ceilings, continuing resolutions to fund...more

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

by Timothy J. Horstmann | McNees Wallace & Nurick LLC on 2/14/2013

A bill has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others which would, among other things, dramatically change the process by which municipal financings are reviewed by the Department...more

Select Broker-Dealer, Investment Adviser, and Investment Company Enforcement Cases and Developments: 2012 Year in Review

by Morgan Lewis on 2/6/2013

This Outline highlights key U.S. Securities and Exchange Commission (the "SEC" or the "Commission") and Financial Industry Regulatory Authority ("FINRA") enforcement developments and cases regarding broker-dealers during...more

Investing In Georgia: Economic Development Newsletter - January 2013

by King & Spalding on 2/6/2013

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - Report regarding the vital importance of municipal bonds, currently threatened by deficit reduction...more

Antitrust Law: 2012 Highlights

by Sean Duffy, Jonathan M. Rich | Morgan Lewis on 1/30/2013

In 2012, the Antitrust Division (Division) of the U.S. Department of Justice won several significant convictions, both at trial and through guilty pleas, while the merger enforcement efforts of the Division and the Federal...more

Criminal Antitrust Update - January 2013

by Andrew Friedman | Patton Boggs LLP on 1/21/2013

In This Issue: - INDUSTRY SCORECARD - Technology: An executive of AU Optronics Corp. (“AUO”) was convicted of price-fixing in the LCD flat screen markets in a re-trial. Steven Leung was involved in the sale of LCD...more

You Don’t Have to Pay for a Post Issuance Compliance Policy…But Have You Adopted One Yet?

by Laura McAloon, Scott McJannet, David Thompson, Cynthia Weed | K&L Gates LLP on 1/14/2013

A number of municipal entities have been receiving a solicitation to purchase a post-issuance debt policy and procedure manual. The advertisement suggests that having such a policy is required by the Internal Revenue Service...more

How the New ‘Fiscal Cliff’ Law Affects the Municipal Bond Market

by Kimberly Betterton, Scott Cockerham | Ballard Spahr LLP on 1/10/2013

The American Taxpayer Relief Act of 2012 (the Act), passed by the Senate and the House and Representatives on New Year’s Day and signed by the President on January 2, 2013, includes several direct and indirect consequences...more

"28% Cap" Unlikely to Trigger Wave of Municipal Bond Tax Calls

by Len Weiser-Varon | Mintz Levin - Public Finance on 1/9/2013

Market commenters have suggested that billions of dollars in municipal bonds may be subject to par redemptions if the much-discussed “28% cap” on the value of certain federal income tax deductions or exclusions is enacted and...more

Tax Law Blog: Attacks on the Exemption for Municipal-Bond Interest and Why it is Important to the Average Taxpayer

by Courtney A. Strutt Todd | Davis Brown Law Firm on 12/18/2012

Tax reform is a big topic in today’s news and much of the presidential campaign and debates were centered on how to get our nation out of debt and back on track. One of the proposed cuts in President Obama’s budget for 2013...more

Detroit's "Fiscal Cliff" and Michigan's Response

by William W. Kannel, Adrienne Walker | Mintz Levin - Public Finance on 12/15/2012

Detroit’s increasingly distressed financial condition has created a dynamic and rapidly evolving situation where the potential of a Chapter 9 filing appears to be the subject of renewed discussion and legislative attention. ...more

Will Muni Tax Exemption Fall Off Fiscal Cliff?

by McCarter & English, LLP on 12/14/2012

With the fiscal cliff looming ever closer, recent talk in Washington, D.C., suggests both parties are seriously considering limiting the benefits of the federal exclusion from gross income for interest income earned on...more

Retirement Program Bonds: New Tool for Michigan Municipalities

by Thomas D. Colis, David P. Massaron, Michael P. McGee, Patrick F. McGow | Miller Canfield on 12/5/2012

In October 2012, Governor Snyder signed into law SB 1129, designed to provide Michigan local governments with the ability to issue bonds or other municipal securities to pay all or part of the costs of their unfunded pension...more

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SEC Charges City of Harrisburg with Fraud

SEC Charges Municipal Bond Issuer with Securities Fraud for Misleading Statements on Issuer’s Website

New Swap Business Conduct and Record-Keeping Regulations Kick in for Municipal Bond Issuers and Borrowers

Bill on Bankruptcy: Stockton May Win the Battle, Lose the War [Video]

Sequestration to Reduce Government Payments to Issuers of Certain Qualifying Bonds

Tax-Exempt Financing Provisions on the Table as Congress Considers Tax Reform

Investing In Georgia: Economic Development Newsletter - February 2013

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

Select Broker-Dealer, Investment Adviser, and Investment Company Enforcement Cases and Developments: 2012 Year in Review

Investing In Georgia: Economic Development Newsletter - January 2013

Antitrust Law: 2012 Highlights

Criminal Antitrust Update - January 2013

You Don’t Have to Pay for a Post Issuance Compliance Policy…But Have You Adopted One Yet?

How the New ‘Fiscal Cliff’ Law Affects the Municipal Bond Market

"28% Cap" Unlikely to Trigger Wave of Municipal Bond Tax Calls

Tax Law Blog: Attacks on the Exemption for Municipal-Bond Interest and Why it is Important to the Average Taxpayer

Detroit's "Fiscal Cliff" and Michigan's Response

Will Muni Tax Exemption Fall Off Fiscal Cliff?

Retirement Program Bonds: New Tool for Michigan Municipalities

Bill on Bankruptcy: Stockton May Win the Battle, Lose the War [Video]

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