In September 2022, the US Securities and Exchange Commission (SEC) announced that it had filed suit against one broker-dealer underwriter and entered into settlements with three other.
US Securities and Exchange Commission SEC announced filed suit against one broker-dealer underwriter and entered into settlements with broker-dealer underwriters in cases alleging underwriters violated limited offering exemption rules applicable to municipal bond offerings.
In an unprecedented move, the Securities and Exchange Commission (the “SEC”) recently filed litigation against one underwriter of municipal securities and announced settlements with.
The SEC has charged Oppenheimer in a litigated action and settled with BNY Mellon, TD Securities and Jefferies for failing to comply with municipal bond disclosure requirements.
I started practicing law in the same year that California enacted a limited offering exemption for the offer and sale of securities in issuer transactions, Cal. Corp. Code § 25102(f).