SEC Opens New Front in Enforcement Efforts, Reaches Muni Bonds Sale Settlement
The U.S. Securities and Exchange Commission has opened “a new front” with its enforcement efforts, reaching a $20 million settlement with Edward Jones over the company’s sale of municipal bonds.
It’s the SEC’s first “pricing-related case against an underwriter selling new municipal securities.”
In the wake of the settlement, three SEC commissioners wrote a letter urging the Financial Industry Regulatory Authority and Municipal Securities Rulemaking Board to implement better rules on transparency in bond pricing.
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