We are thrilled to be offering our industry-leading exam preparation for the MSRB's Series 52 exam," says President Jeremy Solomon, and "we look forward to helping raise our customers' pass rates and lowering their costs on this flagship exam in the municipal securities
Sirianni purchased municipal securities
from a broker-dealer on Oppenheimer's behalf, held the bonds in inventory for at least overnight, and then made the bonds available for resale at an unfair price to the firm's customers.
The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities
In 2010 and 2011, a relentless drumbeat of dramatic and at times irresponsible headlines alarmed municipal securities
investors with serious and unwarranted exaggerations of market risks.
The Funds are not changing their investment objectives and each Fund will continue to invest primarily in a portfolio of municipal securities
To do this, the MSRB now regulates municipal advisors as well as municipal securities
dealers, but does not regulate the activities of municipal entities or have jurisdiction over them.
The withdrawal from this service is prompted by the declining volume of definitive municipal securities
, the Reserve Banks' expected underrecovery of costs for providing the service in future years, and the availability of reasonable private-sector alternatives.
For almost 20 years now, since the New York City fiscal crisis of the 1970s, we've been cautioning officials who authorize the issuance of municipal securities
that they have a critical role in ensuring that official statements representing those securities are accurate and not misleading," said Levitt.
In addition, all municipal securities
transactions executed by dealers before the closing date, known as when-issued transactions, are exempt from the T+3 requirement.
Applicants representing the public must not be affiliated with brokers, dealers, municipal securities
dealers or municipal advisors.
The par amount traded in the municipal securities
market in the first quarter of 2011 totaled $842,088 million, down nearly 8 percent from the $915,207 million traded in the same period last year.
Roberts said one solution to the problems of municipal securities
disclosure would be for Congress to pass legislation that would give the SEC the express authority to set the accounting standards for issuers of these instruments.