In an unprecedented move, the Securities and Exchange Commission (the “SEC”) recently filed litigation against one underwriter of municipal securities and announced settlements with three others. The litigation and...more
On May 4, 2020, Securities and Exchange Commission Chairman Jay Clayton and Director of the Office of Municipal Securities Rebecca Olsen issued a statement encouraging municipal securities issuers and obligors (each referred...more
Overview -
Many issuers (including conduit borrowers) and others in the municipal market are facing unprecedented financial, operational and other challenges as a result of the spread of the Coronavirus Disease 2019...more
Local government issuers of bonds and any conduit borrowers of the proceeds of such bonds need to be aware of California Senate Bill 450 (Hertzberg), signed into law by the Governor on October 9, 2017....more