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Category Archives: Municipal Securities

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Enforcement Settlements All Wrapped Up in a Bow

Posted in Municipal Securities, SEC Enforcement

Last year, the SEC’s Division of Enforcement launched the “Municipalities Continuing Disclosure Initiative” offering “favorable settlement terms” to municipal issuers and underwriters who self-report continuing disclosure violations.  At that time, it was claimed that there were a lot of problems and that it was expected there would be more such settlements in the future.  See… Continue Reading

SEC’s Walter Calls for “Crack Down” on Underwriters Touting Delinquent Municipal Issuers

Posted in Broker-Dealer Regulation, Municipal Securities, SEC Enforcement

The new SEC Chairman wants to prosecute those underwriters who recommend municipal issuers who hae “persistent and material” disclosure delinquencies. In particular, the SEC may apply a stricter interpretation of previous guidelines that it issued for these underwriters.  Such an interpretation would relate to the issuers’ accuracy and completeness pertaining to its disclosures. The SEC may also amend… Continue Reading