With the onslaught of negative economic news related to the ongoing coronavirus crisis, many municipalities are scrambling to determine the impact of the pandemic on, among other things, their finances. Many may be staring...more
A pair of bills has been introduced in the PA House of Representatives and State Senate that would deny state grants and other benefits to “sanctuary jurisdiction” municipalities, colleges and universities....more
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
9/1/2016
/ Cease and Desist ,
Civil Monetary Penalty ,
Enforcement Actions ,
Material Misstatements ,
MCDC ,
Municipal Bonds ,
Municipal Securities Issuers ,
Municipalities ,
Public Sector ,
Rule 15c2-12 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Settlement Agreements ,
Underwriting
Large privately held, publicly regulated utility companies with a focus on rapid growth and expansion throughout the Commonwealth have a new target - municipally owned water and wastewater systems. Pennsylvania legislation...more
On October 22, 2013 the Pennsylvania Senate Local Government Committee voted unanimously to move an amended version of Senate Bill 901, the vehicle for municipal financial reform, out of committee for consideration by the...more
On October 22, 2013 the Pennsylvania Senate Local Government Committee moved an amended version of Senate Bill 903 out of committee for consideration by the full Senate. Senate Bill 903 originally would have prohibited...more
A bipartisan group of Pennsylvania Senators led by Senators John Eichelberger (R) and Rob Teplitz (D), the majority and minority chairs of the Senate’s Local Government Committee, and including Senators Mike Folmer (R) and...more
The Securities and Exchange Commission ("SEC") recently announced that it has charged the City of Harrisburg with violations of various anti-fraud provisions of federal securities laws in connection with the resource recovery...more
Municipal financings are often perceived as a very complex, and even overwhelming, undertaking. The various rules and regulations which govern the process oftentimes seem complicated and difficult to understand. Keep in mind...more
Originally published in The Legal Intelligencer on February 26, 2013.
A package of reform-minded bills has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others that, if enacted,...more