The Securities and Exchange Commission's Public Finance Abuse Division began looking in new directions, charging five different firms with violating 15c2-12 limited offering exemptions in addition to going after issuer officials.
The latest version of a controversial financial disclosure bill includes changes that benefit muni issuers after a major push by the public finance lobby.
The provision shifts rulemaking and enforcement of the new disclosure standards to the SEC from the MSRB, which was charged with the task in an original version.