Municipal Division
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January 8, 2008
SIFMA Projects Fixed Income Issuance Decline of 15 Percent in 2008, to $3.4 Trillion Performance Forecast to Improve in Second Half
December 17, 2007
SIFMA Supports MSRB System for Electronic Disclosure of Official Statements For New Issue Municipal Securities and Read Letter (pdf)
December 13, 2007
SIFMA Testifies at Senate Finance Committee Hearing on "The Housing Decline: The Extent of the Problem and Potential Remedies
September 27, 2007
The Securities Industry and Financial Markets Association (SIFMA) announced that it has developed model auction agency and broker-dealer agreements for use with auction rate securities. In addition, SIFMA has updated its previously issued model auction procedures, note to bond counsel and standard disclosure language regarding the role of the broker-dealer in auctions. These model documents and procedures embody certain principles in SIFMA’s Best Practices for Auction Rate Securities, which were finalized in April 2007.
August 29, 2007
Capital Market Issuance Rises to $3.57 Trillion in First Half
According to a recent report by The Securities Industry and Financial Markets Association (SIFMA), issuance of new securities in the U.S. capital markets rose to $3.57 trillion in the first half of 2007,
a 10.4 percent increase over the first half of 2006.
July 26, 2007
SIFMA CEO Marc Lackritz Comments on SEC White Paper on Municipal Securities
The Securities Industry and Financial Markets Association (SIFMA) issued a statement from CEO Marc Lackritz on the SEC’s white paper on disclosure and accounting practices in the municipal market.
July 20, 2007
SIFMA Files Amicus Brief in Davis v Kentucky Interest on In-State Municipal Bonds Should Remain Tax Free for State Residents
The Securities Industry and Financial Markets Association (SIFMA)
filed an amicus, or friend of the court, brief arguing that the Supreme Court should reverse a prior ruling of the Kentucky Court of Appeals and allow the interest earned by state residents on municipal bonds issued within the state to remain tax-free, but to tax interest earned by its residents on municipal bonds issued by other states.
July 18, 2007
SIFMA’s Lackritz On SEC Chairman Cox’s Municipal Securities Speech
T
he Securities Industry and Financial Markets Association (SIFMA) issued a statement from CEO Marc Lackritz on SEC Chairman Cox’s speech relating to the municipal securities market.
March 29, 2007
SIFMA Testifies on Public Financing for Certain Facilities
Decision to Use Tax-Exempt Bonds Should be Left to Local Government
SIFMA testified March 29, 2007 before the House Oversight and Government Reform Subcommittee on Domestic Policy regarding public financing for the construction of stadiums, convention centers and hotels. At the hearing, Michael Decker, Senior Managing Director of Research and Public Policy at SIFMA, argued that the decision on whether to use public resources to finance these facilities should me made by states and local communities themselves.
Municipal Bond Credit Report - March 2007
The Municipal Bond Credit Report for March 2007 reports municipal bond credit quality finished the year strong supported by rising state and local government tax revenues from sustained economic growth, personal income gains and higher corporate profits. There were a few state G.O. upgrades and no downgrades in the fourth quarter and through the first few months of 2007.