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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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The Bond Pricing Institute, a Division of the BDA, Announces Steering Committee and 2022 Agenda.
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GASB Requests Proposals for 2022 Crain Research Grants.
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MSRB Publishes 2021 Fact Book of Municipal Securities Data.
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Hawkins Advisory: New Private Activity Bond Provisions for Qualified Carbon Dioxide Capture Facilities
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Joint Trades Letter in Support of LIBOR Legislation to Address “Tough Legacy” Contracts – SIFMA
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Headlines for Alternative Lenders on LIBOR Replacement: McGuireWoods
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New and Familiar Compliance Challenges for FINRA Members in 2021 and What That Means for 2022: Katten Muchin Rosenman
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FINRA Issues 2022 Report on Its Examination and Risk Monitoring Program.
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Firm Short Positions and Fails-to-Receive in Municipal Securities: 2022 Report on FINRA’s Examination and Risk Monitoring Program
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California Warns Investors of Labor Market and Supply Chain Issues.
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Post-Issuance Tax Compliance and Continuing Disclosure Responsibilities for Issuers and Borrowers of Tax-Exempt Bonds (Second Edition) – Orrick
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FINRA Report Highlights New Topics and Emerging Risks for 2022.
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FINRA Publishes 2022 Report on Its Examination and Risk Monitoring Program: Mayer Brown
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FINRA’s 2022 Report on Exam and Risk Monitoring Program Adds Five Topic Areas: Cadwalader
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FINRA Report Finds Short Position Controls Lacking.
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MSRB’s ESG Request for Information Begins to Collect Submissions.
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MSRB Announces Members of 2022 Board Advisory Groups.
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SEC’s Gensler: Major Cybersecurity Regulatory Changes On the Horizon
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Municipal Securities Regulation and Enforcement: The Year in Review and a Look Ahead – Ballard Spahr
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GFOA Member Alert: Tier 1-3 SLFRF Project and Expenditure Report Due January 31
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MSRB Votes to Extend Pandemic Relief and Implement a New Approach to Fees at Quarterly Board Meeting.
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MSRB Launches Emma Labs as the Regtech Innovation Sandbox for the Future Of Municipal Bond Market Transparency.
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Draft Companion Compliance Resources for Dealers and Municipal Advisors.
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SEC Taking a Closer Look at Issuer Disclosure.
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Treasury’s Letter to Arizona May Impact Muni Issuance Disclosures.
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Hawkins Advisory: Final Treasury Reissuance Regulations Addressing Modifications of Debt Instruments to Replace IBORs
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An ESG Reckoning Could Be on the Horizon for Municipal Bonds.
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GASB Adds Major Project, Pre-Agenda Research Area to Technical Plan.
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Muni Market’s Regulator Is Seeking Standards for Disclosure on ESG Debt.
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NFMA’s Diversity, Equity & Inclusion Initiatives.
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IRS and Treasury Guidance On the Transition From Interbank Offered Rates to Other Reference Rates.
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IRS and Treasury Release Final Guidance on Libor Transition.
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NFMA’s New Mission Statement Approved.
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NFMA Municipal Analysts Bulletin – December 2021
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RBC Paying $1M FINRA Settlement for Years of Junk Bond Oversight.
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FINRA Fines RBC Over $280,000 for Violating Muni Rule.
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MSRB EMMA Update to CUSIP Groups Feature.
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MSRB RFC: New Draft Rule G-46
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MSRB Opens Second Comment Period on Regulation of Solicitor Municipal Advisors: Cadwalader
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Joint Trades Letter in Support of H.R. 4616, the Adjustable Interest Rate (LIBOR) Act.
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SEC Outlines Key Considerations for LIBOR-Linked Muni Securities.
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SEC Staff Statement on LIBOR Transition – Key Considerations for Market Participants.
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SEC Staff Issues Key Considerations on LIBOR Transition: Latham & Watkins
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MSRB RFC: ESG-Related Disclosure and ESG Labeling
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MSRB Requests Information on ESG Practices: Cadwalader
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MSRB Extends Comment Deadline on Draft Compliance Resources for New Issue Pricing: Cadwalader
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SEC Charges Adviser with Section 204A Violation for Failing to Maintain MNPI Procedures: Paul Hastings
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Pre-Order the New Electronic GAAFR.
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SEC Names New Acting Director of the Office of Municipal Securities.
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Retired SEC Enforcer Zehner Reflects on Landmark Muni Cases.
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Ernesto A. Lanza Named Acting Director of SEC Office of Municipal Securities.
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MSRB Staff Examines Change in Use of External Liquidity over Time: Cadwalader
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Quarterly Report of the GASB Chair.
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Here’s One Way to Get the Municipal Bond Market to Come Clean on Climate Change Risks.
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There Are No Municipal-Market Bond Vigilantes When It Comes To Climate Risk, This Study Confirms.
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Implementing the Recommendations of the Task Force on Climate-Related Financial Disclosures (2021)
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Increased Investor & Rating Agency Interest in Cybersecurity and Climate Change Disclosure in Municipal Bond Issuances.
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SEC’s FY 2021 Enforcement was Robust in the Muni Arena.
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Hotel Builder Misled Municipal Bond Investors, Trustee Alleges.
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SEC Appoints New Director of Office of Credit Ratings: Cadwalader
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GASB Outlook E-Newsletter Fall 2021.
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MSRB Seeks Volunteers For Its FY 2022 Compliance Advisory Group.
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MSRB Reviews Initiatives under Strategic Plan: Cadwalader
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The Libor Transition: Protecting Consumers and Investors – SIFMA Statement
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SIFMA Joint Letter to Senate Re Transition from LIBOR to Alternative Reference Rates.
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MSRB Proposes Extension of Remote Inspection Relief: Cadwalader
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MSRB Holds First Quarterly Board Meeting of New Fiscal Year.
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MSRB Announces Topics for Quarterly Board Meeting.
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October GFOA Government Finance Review Available Now.
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GASB Changes Name of Report to “Annual Comprehensive Financial Report”
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The ABCs of ESG: Practical Considerations for Environmental, Social and Governance Disclosure in Municipal Finance.
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SEC Charges School District and the District’s Former Chief Financial Officer with Violations of Securities Laws in a 2018 Bond Offering.
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GFOA: Meaningful Disclosure Encouraged in ESG by State and Local Governments
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GFOA Best Practices in ESG Disclosure: Social
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GFOA Best Practices in ESG Disclosure: Environmental
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GFOA Best Practices in ESG Disclosure: Governance
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MSRB Requests Comment on Draft Compliance Resources for Supervisors: Cadwalader
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Banks Press Ahead with Term SOFR Preparation; Credit Sensitive Rates Under Scrutiny: McGuireWoods
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GFOA Priorities Face Uncertainty as Infrastructure Vote Delayed.
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SEC Approves Changes to MSRB Customer Disclosure Rules.
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UBS’s Botched Muni Statements Cost Clients Millions, Suit Says.
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UBS Sued Over Muni-Bond Snafu that Cost Clients.
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UBS Faces Lawsuit Over Alleged Muni Misreporting.
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FINRA Proposes Fee for New Municipal Advisor Principal Exam.
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SLFRF Recipients: Treasury Extends Reporting Deadline
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ESG Issues on the ‘Mind’ of the Muni Market’s Regulator.
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GASB Fact Sheet on the Proposed Note Disclosure Concepts Statement.
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US Bond Lobbies Warn SEC of Severe Disruption Under Rule Change.
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SEC Sues Muni Advisers in First Case Over Bank Fee Splitting.
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SEC Files Muni Bond Action Centered on Flippers.
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MSRB Outlines Strategic Plan for Next Four Years: Cadwalader
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MSRB Strategic Plan Advances Mission to Protect and Strengthen the Municipal Securities Market, Giving America the Confidence to Invest in Its Communities.
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SEC, MSRB and FINRA to Offer Compliance Outreach Program: Cadwalader
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Intriguing FINRA Enforcement Action In the Bond Market: More to Come? – Arent Fox
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SEC Charges School District with Misleading Bond Investors.
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Firm Settles SEC Charges For Prioritizing “Flippers” In Municipal Offerings: Cadwalader
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NFMA Accepting Applications for At-Large Seats on the 2022-2023 Board of Governors.
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RBC Capital Settles with SEC for $800K Over Muni Bond Dealings.
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Amendments to Rule G-10 Notification Requirement for Dealers: SIFMA Comment Letter
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SEC Approves MSRB Extension for Municipal Advisor Principal Qualification Examination: Cadwalader
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A Big Bond Market Headache, Courtesy of the SEC.
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Gensler Turns Spotlight on How Hard It Can Be to Get Bond Prices.
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U.S. SEC Chair Wants Private Fund Fee Disclosures, Bond Market Transparency – Testimony
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SEC Charges High School District CFO with Misleading Investors.
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SEC Reaches Settlements with Sweetwater Union District, Ex-CFO for Filing False Reports.
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SEC Settles with San Diego-Area School District and Former CFO.
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RBC Capital Markets to Pay More than US$800K to Settle U.S. SEC Charges.
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RBC Resolves U.S. SEC Charges Over Bond Abuses, is Fined.
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RBC to Pay More Than $863K to Settle Charges over Muni Bond Sales.
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SEC Fines Ex-Broker for Retail Order Period Scheme.
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Which Side Are You On? Municipal Broker/Dealer Takes Both Sides.
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MSRB Compares ATS And Broker’s Broker Trading Platforms: Cadwalader
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NFMA Accepting Applications for At-Large Seats on the 2022-2023 Board of Governors.
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Cities and States on the Frontline of Climate Change Aren’t Always Upfront about Risks. Does the Municipal Bond Market Care?
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Characteristics of Municipal Securities Trading on Alternative Trading Systems and Broker’s Broker Platforms.
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Underwriter Settles SEC Charges for Failing to Disclose Conflicts: Cadwalader
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Legislative Path Forward for Key Muni Legislation.
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SEC Fines Firm and Ex-CEO for Failing to Disclose Conflict of Interest.
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August Issue of GFOA’s Government Finance Review.
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Financial Accounting Foundation Trustees Announce Appointment of New Chair of the Governmental Accounting Standards Advisory Council (GASAC)
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Treasury Guidance on Non-Entitlement Units is Now Available.
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MSRB Offers Remote Municipal Advisor Principal Exam.
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What Will the End of LIBOR Mean for the Multifamily Industry?
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Public Pension Looters Need Not Fear FBI And Law Enforcement.
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The Conclusion of a Long Running Pay-to-Play Case.
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