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SEC Looks to Finalize Proposed Cyber Rules, Issue New NPRM.
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SEC Proposes to Establish a New Best Execution Standard.
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The Securities and Exchange Commission New Year’s Resolution? Market Restructuring for All!
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The Financial Data Transparency Act Casts a Looming Shadow Over Municipal Securities Disclosure
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Proposed Regulation Best Execution: SEC Considers Market Structure Shakeup.
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More and Better Uses Ahead for Governments’ Financial Data.
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January 2023 MSRB Board of Directors Meeting Discussion Items.
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The Case for More Federal Oversight of State and Local Budgets.
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MSRB 2022 Municipal Bond Market in Review.
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MSRB Publishes 2022 Annual Report and Audited Financial Statements.
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2023 Reminder to Issuers and Borrowers of LIBOR-Based Tax-Exempt Bonds: Now is the Time to Protect the Tax-Exempt Status of Bonds in Anticipation of Upcoming Discontinuation of LIBOR – Foster Garvey
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New Standards Coming By 2027 for Reporting Information to EMMA: Kutak Rock
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Machine-Readable Financial Reporting Is Less Scary Than You Think: Bond Buyer
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White Paper: Structured Data is Coming to the Municipal Securities Market–Now What? – Ballard Spahr
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Designation Information Regarding Mandatory Participation in MSRB Business Continuity and Disaster Recovery Testing.
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SEC Proposes Comprehensive Best Execution Framework for Broker-Dealers: Sidley
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Municipal Securities Disclosure Will Be Subject To New Data Standards.
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Real-Time Data on What Muni Bond Investors Think of Your City.
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Brokerage Firm Settles Charges for Violations of Muni “Private Placement” Requirements.
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The Financial Data Transparency Act: Orrick
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SEC Charges PNC in Latest Limited Offering Disclosure Action.
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Comment Deadline Set for MSRB Proposal to Extend Electronic Registration Filing Deadline.
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GASB Proposes Guidance To Assist Stakeholders With Application Of Its Pronouncements.
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MSRB Amends Rule A-12, on Registration, and Provides Accompanying Form A-12 Changes.
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MSRB Proposes Extending Filing Deadlines.
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New State and Local Government Financial Reporting Requirements Headed to Biden’s Desk.
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Financial Accounting Foundation (FAF) Trustees Reappoint Chair and Vice Chair of the Governmental Accounting Standards Advisory Council (GASAC).
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MSRB Seeks Board of Directors Applicants.
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MSRB Announces Members of 2023 Compliance Advisory Group.
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SEC Releases 2022 Enforcement Division Results: Dechert
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A Closer Look at Rule 15c2-12 Exemptions Following Unprecedented SEC Enforcement Actions: Frost Brown Todd
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A Chance to Make Government Financial Data Transparent and User-Friendly.
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Final Defense Bill Includes New Muni Disclosure Standards.
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“Lame Duck” Congress May Take Up Modified Financial Transparency Rules.
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NFMA DE&I Survey.
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GASB’s New Concepts Statement on Note Disclosures.
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Local Governments, Many on Wall Street Line Up Against Muni-Data Bill.
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GFOA Executive Board Approves Accounting Best Practices Focused on Federal Grants Reporting.
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Proposed Rule Change to Amend Rule G-3, on Professional Qualification Requirements, to Delete References to Certain Temporary Regulatory Relief Implemented During the Height of the Coronavirus Disease.
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Proposed Rule Change to Amend MSRB Rule G-27, on Supervision, to Further Extend the Current Regulatory Relief for Remote Office Inspections through June 30, 2023.
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MSRB Extends Regulatory Relief for Remote Inspections and Files Amendments to Remove Expired Professional Qualifications Relief.
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GASB Proposes Guidance to Assist Stakeholders with Application of its Pronouncements.
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Financial Accounting Foundation (FAF) Trustees Reappoint Chair and Vice-Chair of the Governmental Accounting Standards Advisory Council (GASAC).
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MSRB Proposes Amendments to Streamline EMMA Data Submission Process.
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MSRB Underwriter Considerations for Assessing Written Supervisory Procedures Regarding New Issue Pricing.
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MSRB Considerations for Assessing Written Supervisory Procedures for Municipal Advisory Services.
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MSRB Request for Comment on Draft Amendments to MSRB Rule G-32 to Streamline the Deadlines for Submitting Information on Form G-32
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Broker-Dealer Settles Charges for Disclosure Failures and Defective Account Statements.
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Relief For The Digital Data-Starved $3.9 Trillion Municipal Bond Market.
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Recent SEC Enforcement Actions Highlight Continuing Disclosure Obligations of Municipal Bond Underwriters.
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Financial Accounting Foundation Board of Trustees.
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GFOA Scholarship Applications Open for 2023.
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Small Muni Issuers See A Potential 620% Windfall For Their Taxpayers.
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Primary Offerings of Municipal Securities: Impact of COVID-19 Crisis on Competitive and Negotiated Offerings – MSRB Report
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MSRB Seeks Volunteers for FY 2023 Compliance Advisory Group.
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MSRB Holds First Quarterly Board Meeting of New Fiscal Year.
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Cities and States Bristle Over Proposal to Change How They Report on Finances.
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GASB Going Concern Uncertainties and Severe Financial Stress Disclosures Task Force Formed.
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SEC Municipal Advisor Examination Observations: Mayer Brown
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BDA is Happy to Release the Fall Issue of Our Quarterly Magazine, Fixed Income Insights.
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Climate-Related Financial Risk: SIFMA Comment Letter
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FINRA Proposes Expanding the Application of FINRA Rules to Government Securities.
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SEC Steps Up Enforcement With Respect to Municipal Bond Offerings: ArentFox
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A Teachable Moment: Latest SEC Enforcement Actions Remind Underwriters of Limited Offering Exemption’s “Reasonable Belief” Requirements – Orrick
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MSRB FY 2023 Budget Advances Strategic Plan Goals.
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GFOA Member Alert: Proposed Financial Data Transparency Act A Costly and Burdensome Unfunded Mandate
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DC Fly-In Recap: BDA Meets with Key Policy Makers to Discuss Muni Priorities.
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SIFMA Criticizes FINRA and MSRB Proposals to Reduce Reporting Times for Fixed Income Securities.
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SEC Alleges Fraud and Deceptive Practices in Case Against City of Rochester, New York – Dinsmore
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What Is an Industrial Development Bond and Why Does It Matter When Interpreting Blue Sky Laws? – Harris Beach
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The Finance Industry Needs Better Climate Disclosures.
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MSRB Notice 2022-07 and FINRA Regulatory Notice 22-17 – Proposals to Shorten Fixed Income Trade Reporting Timeframes: SIFMA Comment Letter
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Groups Voice Opposition to Data Reporting Requirements for State, Local Borrowers.
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SEC Speaks 2022: Ongoing Efforts to Restore Public Trust, Aggressive Enforcement Agenda – McGuireWoods
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SEC Brings Actions Against Underwriters In First-Ever Municipal Bond Disclosure Cases: Shearman & Sterling
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SEC Sanctions Broker for Failure to Register as Municipal Advisor and for Inadequate Procedures to Ensure Registration: A Reminder for Brokers and Fund Managers – Goodwin
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SEC Brings First Charges Against Muni Market Underwriters Alleging Failure to Meet Requirements for Limited Offering Disclosure Exemption: Ballard Spahr
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MSRB Votes to Amend Municipal Advisor Advertising and Registration Rules.
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GFOA: Modernizing Internal Control Checklists in State and Local Governments
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Financial Accounting Foundation Relocation.
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Financial Services Professionals: Check Your Political Contributions for Compliance to Avoid Pay-To-Play Fines – Nossaman
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Broker-Dealer Settles Charges for Unregistered Municipal Advisory Operations.
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US Senate Mulls Onerous, Costly Financial Reporting Standards for Counties.
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BDA Monitoring Legislation Mandating Specific Technologies for Issuer Financial Reporting.
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Municipal Bond Market Impact of the SEC’s Mutual Fund ESG Proposals: Ballard Spahr
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Municipal Bond Underwriters Settle SEC Charges for “Limited Offering” Disclosure Violations.
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SEC Charges Loop Capital Markets in First Action against Broker-Dealer for Violating Municipal Advisor Registration Rule.
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SEC Charges Four Underwriters in First Actions Enforcing Municipal Bond Disclosure Law.
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Chicago BD to Pay Over $105K for Failing to Register as Muni Advisor.
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SEC Risk Alert for Municipal Advisors Highlights Key Compliance Issues: Ballard Spahr
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Want to Learn More About the NFMA?
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August Edition of GFR Now Available.
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SEC Municipal Advisor Examination Observations: Mayer Brown
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SEC Continues Scrutiny of Municipal Bond Offerings: Goodwin Proctor
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SEC Approves MSRB Amendments to CUSIP Application Process.
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Proposed Changes to FINRA Expungement Rules: SIFMA Comment Letter
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Regulation Implementing the Adjustable Interest Rate LIBOR Act: SIFMA Comment Letter
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In the Muni Market, Financial Disclosures DO Matter to Investors.
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MSRB Elects New Board Leadership and Announces New Members for FY 2023 at Quarterly Meeting.
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SEC Staff Identifies Compliance Deficiencies Uncovered in Muni Advisor Examinations: Fried Frank
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Summer 2022 MSRB Update.
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MSRB Publishes Summary of Responses to its Request for Information on ESG Practices in the Municipal Securities Market.
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SIFMA Playbook for the Move to T+1
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US Regulators Move on Plan to Cut Bond Reporting to 1 Minute.
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e-Delivery in a T+1 Environment: SIFMA Comment Letter
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MSRB Seeks Comment on Potential Benefits and Challenges of Shortening Trade Reporting to Within One Minute.
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MSRB Publishes ATS Research Paper.
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Muni Market Transaction Costs Remain High, Despite Customer Protection Rules, Study Says.
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MSRB Elects New Board Leadership and Announces New Members for FY 2023 at Quarterly Meeting.
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Arizona Charter School Financed With Muni Bonds Files Bankruptcy.
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Orrick: Lessons From Recent SEC Municipal Enforcement Actions
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MSRB 2022 Mid-Year Market Update.
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July 2022 MSRB Board of Directors Meeting Discussion Items.
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Texas Fought Against ESG. Here’s What It Cost.
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Municipal-Bond Issuers Fall Behind on Disclosures.
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Navigating the Disclosure Labyrinth in Municipal Finance: A Practical Approach
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Fingers in the Till: SEC Charges Texas City Administrator with Falsified Financial Statements to Conceal Embezzlement
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MSRB Compliance Corner.
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GASB Requests Input on Proposal to Require Disclosures About Certain Governmental Risks.
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GASB Issues Enhanced Concepts for Notes to Financial Statements.
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MSRB Notice 2022-03 – Amendments to Certain Fees for Dealers and Municipal Advisors and Proposing an Annual Rate Card Process: SIFMA Comment Letter
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SIFMA, BDA and NAMA on MSRB Proposed Changes to its Fee Setting Process.
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MSRB Fee Proposal Causes Backlash Among Market Participants.
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SEC Issues Proposed Rule Amendments Regarding Fund Naming Conventions: Dechert
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GFOA Government Finance Review June Edition Now Available.
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2022 Update for Investment Advisers: Important Annual Requirements, Recent Proposed Rulemaking, and Recent SEC Enforcement Initiatives: Sidley Austin
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Serving the Public? SEC Charges Two Municipalities and Their Leaders with Bond Fraud.
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Ratings Firm Egan-Jones Sanctioned by SEC.
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SIFMA AMG on SEC Climate-Related Disclosures for Investors.
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The Enhancement and Standardization of Climate-Related Disclosures for Investors: SIFMA
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GASB Improves and Clarifies Standards for Accounting Changes and Error Corrections.
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GASB Provides Unified Accounting Model for Compensated Absences and Eases Disclosure Burden.
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SEC Charges Rochester, N.Y., Misled Investors.
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SEC Charges Rochester, NY Former Officials with Misleading Investors on Bond Offering.
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SEC Sues City of Rochester, Says Investors Not Informed of ‘Serious Financial Difficulties’
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SEC Charges Rochester, NY, and City’s Former Executives and Municipal Advisor with Misleading Investors.
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Finding More Clarity in State Blue Sky Laws: Shedding Light on Exclusions from Municipal Bond Exemptions
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GASB Posts Paper on Intersection of ESG Matters with Governmental Accounting Standards.
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The SEC’s Proposed New Climate-Related Disclosure Requirements for Public Companies: What Do They Mean for Municipal Issuers and Borrowers? – Orrick
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SEC Charges Louisiana Town and Former Mayor with Fraud in Two Municipal Bond Deals.
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FAF Issues 2021 Annual Report.
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S&P Credit FAQ: Will LIBOR’s Expiration Adversely Affect U.S. Public Finance Issuers?
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First Circuit Affirms Dismissal Of Putative Securities Class Action Against Bank For Alleged Failure To Disclose Deteriorating Bond Market Conditions.
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Municipal CFOs: Be Careful of Your Bond Disclosures; The SEC is Gunning for You.
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MSRB Files Proposal with SEC to Implement Structural Changes to Its Fee Setting Process.
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GFOA Debt Committee Launches ‘Wholesale Review’ of Best Practices.
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‘Woke’ ESG Scores From Credit Raters Draw GOP Ire to Muni Market.
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SEC to Crack Down on Misleading ESG Claims With Fund Rules.
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Fitch: ESG in Credit – Exposure to Social Impacts Report
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The SEC’s Proposed New Cybersecurity Disclosure Requirements for Public Companies: What Do They Mean for Municipal Issuers and Borrowers? – Orrick
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Fitch: ESG Relevance Limited for Most US Public Finance Ratings
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America’s Political Right Has a New Enemy No. 1: ESG Investors
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Ducking the Culture Wars Isn’t an Option for Companies Anymore. Fighting Back Is.
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‘Woke Bond Rating’? The Muni Finance Fight Over ESG Scores.
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SEC’s Sanchez Offers Guidance on ESG.
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A Muni Minute: Tit-for-Tat
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How to Avoid Political Jockeying With ESG Bond ETFs.
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Fitch: Where ESG Matters for U.S. Public Finance
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MSRB Analysis Finds Notable Shift in Trading Volumes in Municipal Market Over Last 15 Years.
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S&P Hits U.S. States With Politicized Credit Scores: WSJ Opinion
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State Blue Sky Laws: Shedding Light on Exclusions from Municipal Bond Exemptions
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GASB Issues Omnibus Statement Addressing Wide Range of Practice Issues.
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Muni Audit Reporting Times Worsened Over Last Decade.
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Which Municipal Bond Issuers Have the Speediest Audit Times?
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Seventh Circuit Provides Rare Guidance On “Statutory Liens” – Cadwalader
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Financial Accounting Foundation Board of Trustees: Notice of Meeting
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Puzzling Pieces: Component Unity Identification, Classification, Disclosure, and Display – GFOA
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West Virginia Blasts S&P ESG Scoring as ‘Politically Subjective’
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Some States’ Anti-ESG Push Garners Support In Congress.
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SEC Chief Floats Slashing Bond-Trade Reporting to 1 Minute.
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MSRB Votes to Seek Public Comment on Enhancing Post-Trade Transparency at Quarterly Board Meeting.
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MSRB Proposes to Extend SEC’s Regulation Best Interest to Bank Dealers.
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April 2022 MSRB Board of Directors Meeting Discussion Items.
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April Edition of GFOA Government Finance Review Now Available.
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MSRB to Discuss ESG Request for Information at Quarterly Meeting.
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Utah Officials Blast S&P Over ESG Credit Indicators.
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SEC Charges School District, the District’s Former Chief Financial Officer and the District’s Auditor with Violations of Federal Securities Laws in a 2018 Bond Offering.
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SEC Proposes Significant Expansion of Firms That Must Register as Dealers: Sidley
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Q1 2022 Update on LIBOR Transition Developments: McGuireWoods
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When Are CCOs on the Hook? FINRA Offers Guidance on CCO Liability – Latham & Watkins
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Reminder: SEC Requires Disclosure of Rating Changes and Financial Obligations – Dinsmore & Shohl
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Hawkins Advisory: The Federal Adjustable Interest Rate (LIBOR) Act
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President Biden Signs Bill Expanding Cybersecurity Reporting Obligations.
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SEC Settles Municipal Bond Fraud Case Against Texas School District and Former CFO, and Suspends External Auditor.
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The Curious Story of How CUSIP Numbers Became a Wall Street Battleground.
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MSRB Fair Dealing Solicitor Municipal Advisor Obligations and New Draft Rule G-46: SIFMA Comment Letter
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Groups Raise Concern about Recordkeeping in MSRB Draft Rule.
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ESG Risks for Financial Institutions Operating in the United States: What to Expect in 2022 – Jones Day
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2nd Suit Targets ‘Abusive’ CUSIP Licensing Fees, Tactics.
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The S.E.C. Moves Closer to Enacting a Sweeping Climate Disclosure Rule.
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Cooley: SEC’s Climate Proposal – SCOOP!
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SEC Charges Texas School District and Former CFO with Fraud Related to Bond: Faegre
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Read the Responses to the MSRB’s RFI on ESG Practices in the Muni Market.
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MSRB RFI on ESG Practices in the Municipal Securities Market: SIFMA Comment Letter
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BDA Joins Eight Municipal Market Advocacy Groups in Filing Joint Comment Letter on MSRB’s Notice on ESG-Labeled Municipal Securities.
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Market Response to MSRB ESG Survey Shows Frustration.
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SIFMA Statement on Inclusion of LIBOR Legislation in the Omnibus.
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SIFMA Statement on Senate Passage of LIBOR Legislation.
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LIBOR Act Protects US Legacy Contracts; New SOFR Use Growing – Fitch
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