Recently, the Securities and Exchange Commission (SEC) announced enforcement actions taken against the following 36 municipal underwriting firms for violations in municipal bond offerings. The cases are the first brought against underwriters under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, a voluntary self-reporting program targeting material misstatements and omissions in municipal bond offering documents. In […]

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Goldman Sachs & Co. to pay approximately $2.5 million to Tracy Landow, a client who said she was sold an inappropriate investment in a private-equity fund. Ms. Landow accused Goldman Sachs and her broker of making an unsuitable recommendation in the Goldman Sachs Special Opportunities […]