Ten Most-Viewed Stories
As of Friday, Sept. 7, 2018
1 SEC conducting sweep of top 12 VRDO remarketers
The Securities and Exchange Commission is conducting a sweep of the 12 top banks and broker-dealers that remarket variable rate demand obligations and has sent them letters seeking information and documents on their remarketing and rate resetting practices.
2 Mayor’s exit from race puts Chicago’s fiscal future in flux
Chicago Mayor Rahm Emanuel’s decision Tuesday not to seek a third term stunned the municipal market, raising uncertainty over the city’s stewardship.
3 Three more barred from industry after ‘flipping’ charges
Three more individuals have agreed to be barred from the securities industry for their alleged involvement in a municipal bond flipping and kickback scheme, the latest development in an ongoing Securities and Exchange Commission investigation that has produced several settlements and a federal lawsuit.
4 Midwest’s universities scramble for a shrinking high school graduate pool
The Midwest’s public and private universities are straining to deal with enrollment losses, a challenge that is driving credit erosion and forcing the sector to look in new directions for solutions.
5 ’Flipping’ cases raise systemic muni market questions
Activities like the flipping and kickback scheme regulators brought to light in California last month could undermine the integrity of municipal offerings, though one market participant suggests such conduct may be an unintended consequence of efforts to police priority order periods.
6 Olsen becomes SEC muni securities office director
Rebecca J. Olsen has been named director of the Office of Municipal Securities, the commission announced.
7 What House panel vote next week on Tax Reform 2.0 means eadline
The House Ways and Means Committee plans to vote next week on Tax Reform 2.0 legislation that would make the $10,000 federal cap on state and local tax deductions permanent, the top tax writer said Tuesday.
8 All Aboard Florida has bond go-ahead for Orlando extension
The Florida Development Finance Corp. board asked few questions Wednesday before unanimously approving a bond resolution and agreeing to be the conduit issuer for All Aboard Florida’s $1.75 billion sale of private activity bonds.
9 August issuance posts one of the highest monthly volume totals of 2018
Monthly new-issue volume surpassed the $30 billion mark for the fourth time this year in August, helping keep third-quarter issuance close to last year’s pace and potentially setting the stage for a more robust season of issuance in the Fall.
10 Senate confirms Elad Roisman for SEC
The Senate voted 85 to 14 on Wednesday, mostly along party lines, to confirm Republican Elad Roisman to become a member of the Securities and Exchange Commission for a term expiring June 5, 2023.