FINRA fines two firms, one for failing to oversee political contributions

The Financial Industry Regulatory Authority this week censured and fined two firms for municipal market violations, including failing to properly supervise political contributions from muni finance professionals. Alabama-based municipal underwriter Frazer Lanier Company, Inc. received a censure, agreed to pay a $125,000 fine and put in place a supervisory system that ensures compliance with MSRB Rule G-27 on supervisory procedure.

Join your fellow leaders at The Bond Buyer's National Outlook 2025 to prepare for a pivotal year with insights from our extraordinary lineup of experts and innovators.

Wyoming has become the latest state to float legislation that restricts state funds from being invested with firms that consider environmental, social or governance factors in their actions or investment strategies. Two of the state's largest funds warned the bill would shrink the universe of asset managers willing to partner with the state and thus decrease their revenues.

From politics to disclosure to funding, the changing climate challenges muni issuers. Learn more in our Climate Spotlight 2024 package.

California’s long-running housing crisis means it’s time for the state to embrace a Redevelopment 3.0 that should focus on providing a permanent, reliable source of equity with which to build a sustainable pipeline of affordable housing projects, financial advisor Steven Gortler writes in a commentary piece.

Watch what the municipal bond industry’s innovators and influencers are saying in our Leaders series of video interviews. Check out our lineup of future live interviews and archived conversations.

Florida sold $131.9 million of bonds Wednesday with double-barreled backing from the state's fuel tax and its full faith and credit pledge.

The people have voted. What next? Follow The Bond Buyer's coverage of developments after Election Day.

Los Angeles city officials and ratings analysts said it’s too soon to gauge the impact to city finances or credits from its ongoing wildfire disaster, as firefighters continue efforts to suppress the fires. “The fires moving through Los Angeles County highlight the intensifying risk that wildfires pose to significant areas of the state of California,” Denise Rappmund, vice president and senior analyst at Moody’s Ratings, said in a statement.

Sign up here to receive The Bond Buyer's complete newsletter — delivered to your inbox daily.