The U.S. Securities and Exchange Commission (SEC) on March 1, 2017, proposed adding two additional triggers – in new subparagraphs (15) and (16) – for the material events notice requirements under Rule 15c2-12 (the Proposed...more
4/11/2017
/ Bank Loan Markets ,
Debt ,
Derivatives ,
Disclosure Requirements ,
Financial Obligations ,
Investor Protection ,
Materiality ,
Personal Guaranties ,
Proposed Rules ,
Public Comment ,
Reporting Requirements ,
Rule 15c2-12 ,
Securities and Exchange Commission (SEC) ,
Transparency
The U.S. Securities and Exchange Commission (SEC) announced on Jan. 10, 2017, that the Port Authority of New York and New Jersey (Port Authority) agreed to admit wrongdoing and pay a $400,000 penalty in connection with...more
1/13/2017
/ Bond Markets ,
Bonds ,
Cease and Desist Orders ,
Civil Monetary Penalty ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Markets ,
Investment ,
Municipal Bonds ,
Negligence ,
Port Authority ,
Public Finance ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Tax-Exempt Bonds ,
Transportation Industry
In a first-time use of the Dodd-Frank Act, the U.S. Securities and Exchange Commission (SEC) has charged Allen Park, Mich., its former mayor and its former city administrator with fraud in connection with $31 million in...more
On July 31, 2014, the Securities and Exchange Commission (SEC) issued a press release regarding an extension of the deadline for its Municipalities Continuing Disclosure Cooperation initiative (MCDC). The extended deadline...more
HIGHLIGHTS -
- The Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative) begun by the SEC's Enforcement Division encourages issuers, borrowers or underwriters to self-disclose potential...more
The Securities and Exchange Commission (SEC) on July 29, 2013 charged a school district in Indiana and its municipal bond underwriter with falsely stating to bond investors that the school district had been properly providing...more
On, May 22, 2013, the Securities and Exchange Commission (SEC) charged the City of South Miami, Florida, with "defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure...more
On Monday, May 6, 2013, the Securities and Exchange Commission (SEC) charged the city of Harrisburg, Pennsylvania with securities fraud "for its misleading public statements when its financial condition was deteriorating and...more