News & Analysis as of

Enforcement Actions Disclosure Requirements Municipal Securities Market

Frost Brown Todd

Growing Cybersecurity Risks in the Municipal Bond Market

Frost Brown Todd on

In November 2024, the Township of White Lake, Michigan, fell victim to a cyberattack resulting in the wiring of approximately $29 million to the unauthorized account of the culprit. Before White Lake imminently closed on its...more

Burr & Forman

SEC Sanctions 71 Municipal Issuers for Misstatements

Burr & Forman on

On August 24, the SEC announced settled administrative actions against 71 state and local issuers arising from $3.7 trillion in municipal securities offerings.  The Commission alleged the issuers made false statements...more

Akin Gump Strauss Hauer & Feld LLP

SEC Announces Enforcement Actions Under its Muni Bond Disclosure Initiative

Last week, the Securities and Exchange Commission (SEC) announced that it brought enforcement actions against 71 municipal issuers and other obligated persons as part of the SEC’s Municipalities Continuing Disclosure...more

Ballard Spahr LLP

SEC Announces Second Wave of MCDC Enforcement Actions

Ballard Spahr LLP on

The Securities and Exchange Commission (SEC) this week announced enforcement actions under its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, targeting 22 municipal bond underwriting firms for alleged due...more

Cozen O'Connor

One Size Does Not Fit All: Written Disclosure Policies in a Time of Increased SEC Enforcement

Cozen O'Connor on

The U.S. Securities and Exchange Commission (SEC) continues to increase its enforcement efforts in the municipal bond market by focusing on the sufficiency and timeliness of disclosure in initial municipal securities...more

Womble Bond Dickinson

National Association of Bond Lawyers Releases Guidance on Municipal Securities Disclosure Policies

Womble Bond Dickinson on

Issuers of municipal securities (including conduit borrowers) are required to comply with certain disclosure requirements when preparing official statements or other offering documents, submitting continuing disclosure...more

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