SEC more than doubles muni enforcement filings in FY 2024

The Securities and Exchange Commission more than doubled the number of municipal market enforcement filings in fiscal year 2024 from fiscal 2023, in a year that saw 583 total enforcement actions and a record-breaking $8.2 billion in financial remedies ordered.

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In a quest for interim financing for an $8.6 billion capital program, Dallas Fort Worth International Airport jumped into the extendable commercial paper (ECP) market earlier this year to fund tax-exempt projects.

A tardy annual audit and deteriorating finances led Moody's Ratings to downgrade the issuer and general obligation rating for Manhattan, Kansas, to A1 from Aa3 and warn the rating could be lowered further or even withdrawn.

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The American Public Transportation Association is pressing Congress for at least $57.5 million in emergency appropriations to the Federal Transit Administration's, Public Transportation Emergency Relief program to support agencies recovering from Hurricanes Helene and Milton.

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Endnotes

Today’s top stories include:

SEC more than doubles muni enforcement filings in FY 2024

Anatomy of a deal: Dallas Fort Worth Airport's Southwest winner

Moody's downgrades Manhattan, Kansas, over fiscal strain, late audit

Transit lobby pushing Congress for $57.5 million in stalled funding