Results for "municipal bonds"

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Finra fined Morgan Stanley $90K for unfair trading practices

October 19, 2009

Morgan Stanley has agreed to pay a $90,000 fine to the Financial Industry Regulatory Authority Inc. to settle charges that it traded municipal bonds at unfair prices. The fine covered 11 corporate-bond trades and three municipal-securities trades...

Muni ETFs gain popularity, but are they a good fit?

October 4, 2009

Exchange-traded funds that invest in municipal bonds are gaining in popularity, but some industry watchers think that mutual funds are a better option. The ETF structure just isn't a good fit for the muni market, they said. It can lead to pricing...

Ex-Moody's employee warned SEC about muni issues

September 30, 2009

As Congress steps up scrutiny of the credit rating industry, allegations by another former employee of Moody's Investors Service have come to light and the big rating agency is being called to account before a House panel. A former Moody's employee...

Promises, promises: Finra probes B-Ds' retail muni sales practices

September 27, 2009

The Financial Industry Regulatory Authority Inc. is investigating whether broker-dealers are meeting their obligations to municipal-bond issuers who seek distribution to retail investors. The probe, which so far hasn't been raised to the level...

Freestyle analyst

September 20, 2009

Being an investment research analyst during one of the most historic economic downturns can be stressful. But having faced the physical and mental challenges of open-ocean swimming, 29-year-old Jeffrey Cleveland says he can keep things in perspective....

New rules would give muni issuers more control over distribution

August 11, 2009

The Municipal Securities Rulemaking Board today proposed new rules aimed at ensuring that municipal bond underwriters honor issuers’ wishes to preserve retail investors’ access to new bond issues < http://www.msrb.org/msrb1/whatsnew/2009-47.asp>....

Muni analysts want more issuer disclosure

July 26, 2009

The recently issued SEC proposal to expand issuer disclosure in the $2.7 trillion municipal-securities market doesn't go far enough, say muni-bond analysts and the mutual fund industry. Although the Securities and Exchange Commission would extend...

Municipal bonds thrive despite states' deep economic woes

July 19, 2009

Although state and local governments across the country face staggering budget deficits, their struggles are having little effect on municipal-bond prices. “Since the [second] quarter began, prices are definitely higher,” said Matt Fabian,...

Two new munis and a swaps recap

June 28, 2009

Through the passage of the American Recovery and Reinvestment Act, the government has created Build America Bonds. These are vehicles through which the federal government subsidizes municipal issues so that issuers can offer investors higher...

MSRB readies new muni disclosure system

June 28, 2009

The Municipal Securities Rulemaking Board's revamped municipal-bond disclosure system, set to go live next month, won't be quite the panacea for disclosure that regulators hope, according to some observers. Once it is operational, the Alexandria,...

Muni bond funds enjoy newfound popularity

May 22, 2009

In what advisers say is a flight to safety and returns, municipal bond funds attracted more than $20 billion in new cash from January through May 13, according to the Washington-based Investment Company Institute. That’s a sharp turnaround...

New Build America Bonds are the hot muni investment

April 26, 2009

A little more than a week after they were first issued, sales of Build America Bonds have reached nearly $10 billion and are climbing. Some estimates anticipate that sales of the federally subsidized taxable municipal bonds could reach $50 billion...

Moody’s assigns negative outlook to all U.S. municipalities

April 9, 2009

Moody’s Investors Service has placed all U.S. municipalities on negative outlook, indicating its expectations for the whole sector over the next 12 to 18 months. It is the first time that the New York-based ratings agency issued a broad report...

Fitch’s plan to change muni ratings put on hold

March 3, 2009

Fitch Ratings is putting off a review of its municipal ratings program because of the economic downturn. The New York-based ratings agency said today the review would be deferred because municipal finance issuers are being “severely [affected]...

Fidelity to expand in muni bonds, capital markets

February 26, 2009

Fidelity Investments plans to increase its presence in the municipal-bond market, firm executives said in an interview. “We want to increase the number of negotiated deals, either as underwriters and managers or co-managers of municipal bonds,...

Oppenheimer sued over California fund

February 19, 2009

OppenheimerFunds Inc. of New York is facing a class-action involving its California Municipal Fund, which lost 41.3% last year. A claim filed yesterday in the United States District Court for the Northern District of California by investor Robert...

Municipal bonds issuance up from a year ago

February 2, 2009

Municipalities stepped up their issuance of bonds by 5.3% in January, from a year ago, according to The Bond Buyer. The issuances made up the majority of the municipal bonds entering the market last month — 380 — with a par value of $14.97...

Barney Frank proposes TARP restrictions

January 9, 2009

The Department of the Treasury would be required to take significant steps to mitigate foreclosures under legislation outlined today by House Financial Services Committee chairman Barney Frank, D-Mass. The bill, which has not yet been introduced,...

SIFMA adds municipal bond expert

January 7, 2009

The Securities Industry and Financial Markets Association has hired Leon J. Bijou as managing director and associate general counsel in a bid to expand its municipal bond expertise. In the new position, Mr. Bijou will work with the group’s...

MSRB announces senior management changes

October 14, 2008

The Municipal Securities Rulemaking Board has promoted two staff members to new roles and hired a new member to its senior management team. The Alexandria-based organization has tapped Harold L. Johnson as deputy executive director and Ernesto...

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