Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
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
On May 19, 2014, the SEC issued an updated set of FAQs on the rule defining and requiring municipal advisors to register with the SEC (the Rule). The updated FAQs provide clarification on several important issues for certain...more
On May 19, the SEC updated its Frequently Asked Questions Regarding the Municipal Advisor Registration Rules to clarify when the proceeds of pension obligations bonds should be treated as “proceeds of municipal securities.” ...more
The Securities and Exchange Commission is making it clear: Government leaders who issue misleading financial information are putting themselves at risk. Several recent actions by the Securities and Exchange Commission...more
The resolution of the City of Detroit’s bankruptcy proceeding may have wide-reaching implications regarding the treatment of general obligation bonds, underfunded pensions and health care obligations, as well as the use of...more
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