The National Association of Bond Lawyers (NABL) and the Securities Industry and Financial Markets Association (SIFMA) recently released model issue price documents in connection with the soon-to-be effective Treasury Regulations on establishing the issue price of a tax-exempt bond issue. NABL’s model documents can be accessed here; SIFMA’s documents can be accessed here.
securities
McNees Ranked in Top 5 for Bond Counsel and Underwriter’s Counsel in Pennsylvania for 2016
By Tim Horstmann on
Posted in Public Finance
McNees Wallace & Nurick LLC was ranked fifth in Pennsylvania in the 2016 Bond Counsel Rankings by The Bond Buyer. The firm also was ranked fourth in Pennsylvania in the 2016 Bond Underwriter’s Counsel, and is one of just two firms to appear in the top five in both lists.
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Bond Issue Disclosure: When Politics and the Law Intersect
By David Unkovic on
Posted in Public Finance, Securities
Who has not heard of the Bridgegate scandal? The George Washington Bridge spanning the Hudson River between New Jersey and New York City is the busiest motor vehicle bridge in the world. Two of three toll lanes for a street entrance from Fort Lee, NJ to the George Washington Bridge were closed for five days in September 2013. This resulted in huge backups in Fort Lee. As one of the individuals convicted in the incident emailed, “Time for some traffic problems in Fort Lee.”
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SEC Prevails in Securities Law Action against City of Miami
By Dan Malpezzi on
Posted in Public Finance, Securities
In the first federal jury trial against a municipality for securities law violations, the U.S. Securities and Exchange Commission (SEC) on September 14, 2016 successfully obtained a verdict against the City of Miami and a former city official for violations of various anti-fraud provisions of US securities laws. The SEC is seeking injunctive relief and…