Voters in California may cast ballots this November on a proposal to make substantial changes to the California Constitution involving taxation and related government powers.
Initiative 1935, the so-called “Taxpayer...more
In an unprecedented move, the Securities and Exchange Commission (the “SEC”) recently filed litigation against one underwriter of municipal securities and announced settlements with three others. The litigation and...more
On February 10, 2020, an SEC advisory committee called the Fixed Income Market Structure Advisory Committee (FIMSAC) met and adopted a series of recommendations on the topic “Timeliness of Financial Disclosures in the...more
2/24/2020
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Securities Regulation
The recently enacted reduction of the maximum federal corporate tax rate may trigger contractual provisions that provide for a significant increase in the interest rate on tax-exempt debt privately placed with a bank lender...more
In April 2017, the Road Repair and Accountability Act of 2017 was enacted in California (also known as California Senate Bill “SB1”). Key facts about SB1 are as follows...more
In Public Finance, questions on separation of church and state usually arise in the context of a conduit financing by a state or local governmental entity which benefits a religious organization. The religious organization...more