Last week, the SEC entered orders against three underwriters for failing to comply with Securities Exchange Act of 1934 (“Exchange Act”) Rule 15c2-12. These actions serve as a good reminder for compliance checks and...more
On April 9 the Federal Reserve announced as part of the CARES Act a short term liquidity facility related to governments and referred to as The Municipal Liquidity Facility (the “MLF”). Authorized under Section 13(3) of the...more
On August 20, in response to the recent trend of issuers and obligated persons increasingly using direct purchases of municipal securities and direct loans (“bank placements”) as alternatives to public offerings, the...more