TITLE

Threat of Enforcement

AUTHOR(S)
Hume, Lynn
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/11/2003, Vol. 344 Issue 31613, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The U.S. Securities and Exchange Commission is likely to take enforcement action this year against dealers that are underwriting the bonds of municipal issuers who have repeatedly failed to meet their secondary market disclosure obligations. Enforcement actions would charge dealers with rule violations and possible securities fraud. Meanwhile, both Haines and Hill Feinberg, the chairman of the Municipal Securities Rulemaking Board, who also spoke at the meeting, said they are alarmed about reports that raise questions about whether some municipal finance professionals may be using political action committees and political parties to funnel campaign contributions to issuer officials. In addition, Feinberg said he is very unhappy about reports from market participants that some swap providers and independent financial advisers, who are not covered by G-37, are making political contributions to issuer officials to get municipal securities business.
ACCESSION #
9611063

 

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