Jack Casey
The Bond Buyer
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Past articles by Jack:
A promise yet to be fulfilled: Two years of PROMESA
Signed on June 30, 2016, the Puerto Rico Oversight, Management, and Economic Stability Act sent Puerto Rico’s bondholders and residents on a difficult odyssey that is far from over. → Read More
Study finds EMMA has reduced price volatility, price differentials
While EMMA has helped the market, it has not bridged the gap between institutional and retail. → Read More
Two firms, one individual settle with FINRA for combined $223K
UBS' fine follows prior SEC action against the firm for minimum denomination violations. → Read More
Views mixed about more federal involvement in e-trading
One CEO raised some concerns about electronic trading that he said regulators should consider. → Read More
Appeals court finds GOP groups lacked standing to bring G-37 challenge
The plaintiffs had alleged G-37 amendments would restrict the political contributions of municipal advisors. → Read More
Ex-Ramapo official argues for acquittal or new trial
Former Ramapo, N.Y. town supervisor Christopher St. Lawrence is arguing he should either be acquitted or retried because of errors by the judge made before and during the trial as well as prejudice from jurors who found him guilty of 20 counts of conspiracy and fraud in connection with municipal bonds issued by the town and an authority. → Read More
Jessica Giroux tapped to become NABL's next director of government affairs
Jessica Giroux will replace Bill Daly as NABL's director of government affairs starting next year. → Read More
SIFMA asks SEC to reject 'inefficient' MSRB account transfer proposal
SIFMA wants the MSRB to harmonize its rule on account transfers with FINRA's regulation. → Read More
Government default rates rise to `new normal' for munis, Moody's finds
The five year municipal default rate since 2007 is twice the average since 1970, though it's still a fraction of the default rate on corporate bonds. → Read More
SEC may charge four bankers over work on Puerto Rico muni offerings
The SEC could charge workers from Morgan Stanley & Co. and Barclays Capital, who worked on the deals. → Read More
Oversight board's PREPA move is blasted by GOP, pleases Democrats
Puerto Rico's oversight board's decision against the power authority's restructuring support agreement moves $9 billion of debt closer to bankruptcy. → Read More
NFMA asks for market input on draft best practice for local GO debt
NFMA paper focuses on key disclosures from issuers of local government general obligation debt. → Read More
BOKF calls class action claims in senior housing bond case baseless, confused
BOKF is trying to persuade a judge to dismiss a muni complaint the bank says lacks a legal basis. → Read More
Fed ends muni bid rigging enforcement actions against Bank of America, JPM
Enforcement actions are generally terminated when firms have remedied underlying problems. → Read More
Many MA firms have yet to get their advisors qualified
About a quarter of registered municipal advisory firms have no advisors qualified through the Series 50 exam. → Read More
MSRB lists market guidance, data, financial stewardship among strategic goals
Improving market participants' access to guidance and data are future goals for the MSRB. → Read More
Democrats counter Bishop, urge Puerto Rico board to reject PREPA agreement
Two Democrats urge Puerto Rico's oversight board to reject PREPA agreement over rate hike concerns. → Read More
Bishop urges Puerto Rico board to approve PREPA agreement
Rep. Rob Bishop, R-Utah, said Puerto Rico's oversight board is not following PROMESA with regard to the PREPA RSA. → Read More
Edwards, companies SEC tied to senior housing bond fraud agree to bar from muni market
Dwayne Edwards and 11 companies have agreed to a judgment in a case with ties to Christopher Brogdon. → Read More
CHOICE Act passes House, moves to Senate with major roadblock expected
The Financial CHOICE Act, which the House passed Thursday, would have some direct effects on munis. → Read More