News & Analysis as of

Securities Exchange Act › Municipalities

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +
The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange Commission (SEC), which is the primary regulatory agency enforcing federal securities laws. less -
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

Winstead PC

COVID-19 and Municipal Securities Disclosure

Winstead PC on

COVID-19 is creating more questions than answers in every sector of American life recent days, and the municipal bond market is no exception. Issuers and obligated persons for municipal bonds (collectively, “Obligated...more

Miller Canfield

SEC Adds Two New Material Events to Continuing Disclosure Requirements

Miller Canfield on

Issuers or obligated persons (together, an "Issuer") of municipal securities will be required to add two new events to the list of reportable material events in their continuing disclosure undertakings entered into after...more

Obermayer Rebmann Maxwell & Hippel LLP

Securities and Exchange Commission Adopts Amendments to Rule 15c2-12

Obermayer Rebmann Maxwell & Hippel LLP on

On August 20, 2018 the Securities and Exchange Commission (“SEC”) adopted amendments to 17 CFR 240.15c2-12, commonly referred to as “Rule 15c2-12”, which deals with continuing disclosure obligations. According to the SEC’s...more

Eversheds Sutherland (US) LLP

SEC adds two new disclosure events to Rule 15c2-12

Eversheds Sutherland (US) LLP on

On August 20, 2018, the US Securities and Exchange Commission (SEC) adopted amendments to Rule 15c2-12 under the Securities Exchange Act of 1934. These amendments require additional disclosure related to the material...more

Allen Matkins

What Does "Reflect Financial Difficulties" Mean To You?

Allen Matkins on

On Monday, the Securities and Exchange Commission announced that it had adopted amendments "to improve municipal securities disclosure". Specifically, the SEC amended Exchange Act Rule 15c2-12 which requires brokers,...more

Akin Gump Strauss Hauer & Feld LLP

SEC Proposes Amendments to Rule 15c2-12 to Expand Municipal Securities Disclosures

Akin Gump Strauss Hauer & Feld LLP on

On March 1, 2017, the Securities and Exchange Commission (SEC) published for comment proposed amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 (Exchange Act) that would expand the list of events triggering...more

Bracewell LLP

SEC Proposes Additional Event Disclosures for Municipal Bond Issuers

Bracewell LLP on

On March 1, 2017, the Securities Exchange Commission voted in open meeting to propose amendments to Rule 15c2-12 under the Securities Exchange Act of 1934 adding two event notices to the current fourteen required in...more

Holland & Knight LLP

SEC Seeks Record Penalty Against Former Miami Budget Director - $450,000 Penalty Sought After Former Official Found Guilty of...

Holland & Knight LLP on

After a federal jury found the City of Miami's (City) former budget director guilty of defrauding investors in connection with a 2009 bond offering, the U.S. Securities and Exchange Commission (SEC) is seeking a record...more

McNees Wallace & Nurick LLC

SEC Announces Enforcement Actions Against 71 Municipal Issuers

McNees Wallace & Nurick LLC on

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

Akin Gump Strauss Hauer & Feld LLP

Proxy Access Proposals: Recent Developments

Akin Gump Strauss Hauer & Feld LLP on

Recently, New York City Comptroller Scott Stringer, who oversees five municipal public pension funds with $160 billion in assets, announced an initiative to give shareholders who meet specified criteria the right to nominate...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

Ballard Spahr LLP

How the MCDC Initiative affects bond issuers and borrowers

Ballard Spahr LLP on

If you have ever issued (or borrowed the proceeds of) bonds then you should know about the Municipalities Continuing Disclosure Compliance Initiative (the “Initiative”) and take the appropriate steps to determine your...more

Shumaker, Loop & Kendrick, LLP

New Municipal Advisor Rules and Continuing Disclosure Initiative

Shumaker, Loop & Kendrick, LLP on

In an era of increased scrutiny and regulation of the municipal market, the final rules on what constitutes, and the registra- tion of, “municipal advisors”, became effective July 1, 2014. Concurrently, the SEC initiative to...more

Bracewell LLP

SEC Fraud Charges Against School District Demonstrate Increased Focus on Disclosure Compliance by Municipal Issuers

Bracewell LLP on

On July 29, 2013, the Securities and Exchange Commission announced that it had charged an Indiana school district and its underwriter with securities fraud for falsely stating in a 2007 offering document that the issuer was...more

King & Spalding

Goldman Sachs Pays First-Of-Its-Kind Settlement to Close Pay to Play Action with the SEC by Grant Nichols

King & Spalding on

On September 27, 2012, Goldman Sachs agreed to pay $12 million to settle claims with the Securities and Exchange Commission (“SEC”) alleging that one of its employees engaged in a pay-to-play scheme. The scheme, as described...more

16 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide