Articles Posted in Municipal Securities

In the Matter of Douglas Alan Goldberg Recently, the United States Securities and Exchange Commission (Commission) announced that on September 27, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Douglas Alan Goldberg, a former employee…

In the Matter of David Rubin Recently, the United States Securities and Exchange Commission (Commission) announed that on September 27, 2012, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against David Rubin, founder, president, and chief executive…

SEC Charges Former CEO and Chairman of Mamtek, U.S. with Fraud in the Offer and Sale of Municipal Bonds September, 2012: The Securities and Exchange Commission recently filed suit in U.S. District Court for the Central District of California, charging former CEO and chairman of Mamtek U.S., Bruce Cole, with fraud related to the offer…

MSRB’S EMMA WEBSITE SPOTLIGHTS 529 COLLEGE SAVINGS PLAN INFORMATION September, 2012: The Municipal Securities Rulemaking Board (MSRB) recently announced that it is making it easier for families saving for future higher education expenses to find information about 529 college savings plans. The MSRB’s Electronic Municipal Market Access (EMMA®) website provides access to information about 529…

MSRB PROVIDES GUIDANCE TO UNDERWRITERS ON IMPLEMENTATIONOF NEW OBLIGATIONS TO STATE AND LOCAL GOVERNMENTS July, 2012: The Municipal Securities Rulemaking Board (MSRB) recently published comprehensive implementation guidance to assist underwriters in meeting their newly expanded legal obligations to state and local governments. Effective August 2, 2012, underwriters of municipal securities are required to disclose to…

What is an “Advance Refunding?” This post is designed to provide the reader with general information concerning what an “advanced refunding is” and what it accomplishes. Please keep in mind that this information is being provided for informational purposes only and is not designed to be complete in all material respects. Thus, it should not…

Tax-Exempt Security: This post is designed to provide the reader with general information concerning what constitutes a tax-exempt security and how it is treated for tax purposes. Please keep in mind that this information is being provided for informational purposes only and is not designed to be complete in all material respects. Thus, it should…

Fort Lauderdale and Boca Raton, Florida Municipal Securities Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. June, 2012: In our continued attempt to keep members of the investing public abreast of current developments, we have provided a copy of a recent release issued by the Municipal Securities Rule Making Board (MSRB)…

REVISED DEFINITION OF SOPHISTICATED MUNICIPAL MARKET PROFESSIONAL June, 2012: The Municipal Securities Rulemaking Board (MSRB) recently announced that it received approval from the Securities and Exchange Commission (SEC) to redefine those institutional investors capable of independently evaluating investment risks and market value of municipal securities, and exercising independent judgment in evaluating recommendations of a municipal…

FINRA Arbitration and Litigation Attorney Russell L. Forkey, Esq. May, 2012: MSRB ESTABLISHES NEW PROTECTIONS FOR STATE AND LOCAL GOVERNMENTS THAT ISSUE BONDS The Municipal Securities Rulemaking Board (MSRB) recently announced that, beginning in August, underwriters of municipal securities will be required to disclose to their state and local government clients risks about complex financial…