You may find the following items in this issue of particular interest:
- Wells Fargo Advantage Nat. Tax Fee Fund v. Helicon Associates, Inc., in which the appeals court reversed summary judgment in favor of a law firm on securities law and negligent representation allegations in connection with a bond issuance for which the firm served as underwriters’ counsel.
- Municipality of Bremanger v. Citigroup Global Markets Inc., in which the district court declined to hold Citigroup liable for losses sustained by Norwegian municipalities that invested in a Citi fund, finding that Norwegian broker neglected to convey risk disclosures provided to it by Citi.
- MSRB has received approval from the SEC to expand disclosures related to contributions made by municipal securities dealers to bond ballot measure campaigns.
- The Big Seven state and local government associations, and the GFOA released “Pension Funding Guide: A Guide for Local Officials” to provide key facts about public pension plans and a brief overview of which issues state and local officials should address.
- The IRS’ proposed regulations (REG-106499-12) that provide guidance to charitable hospital organizations on the community health needs assessment (CHNA) requirements and related excise tax and reporting obligations.