SEC

The Proposed Joint Rules leave many questions unanswered regarding the FDTA's ultimate impact on the municipal securities industry.

Panelists at the SEC, FINRA and MSRB joint Compliance Outreach Program looked at the state of municipal advisor regulation and how the Commission could respond going forward.

The focus: municipal advisors — part of your regulatory responsibilities and duties (if you don't agree to evaluate pricing and/or structure, you must expressly disclose it to the client) and broker-dealers (fair dealing). 

The increase in the muni market's size, number of novel credits and retail investors suggest it's "finally time" for direct SEC regulation, argue market veterans Kent Hiteshew and David Dubrow.

Municipal advisor Hamlin Capital Advisors and Michael Ferrell Braun have been charged by the SEC for failing to disclose material conflicts of interest to its charter school clients.

Market participants warned of the law's potential harm to a market that's famously bespoke and self-regulated.

The Securities and Exchange Commission has charged Alliance Global Partners with publishing daily quotes at above market prices on between 4,300 and 6,500 different municipal bonds over a two-year period.

In FY 2025, the Securities and Exchange Commission's Examination Division will be closely monitoring for compliance with MSRB Rule G-42 on the core standards of municipal advisors, in addition to enforcing the T+1 settlement cycle.

The city faces no monetary penalty or monitorship in the final judgment in what those involved are calling an unprecedented move for SEC litigation.

The SEC has charged Thrivent Investment Management for failing to comply with Regulation Best Interest's care and compliance obligation in connection with recommendations to retail investors in 529 Savings Plans.