New Ethics Teleconference - Register Now!

NABL is hosting a new ethics teleconference titled, “Risk - The Game of Reduction of Professional Exposure, Loss Prevention, and Bond Counsel Liability,” on Thursday, December 14, 2017 from 1:00 – 2:30 pm Eastern. Moderator, Tim Stratton from Gust Rosenfeld P.L.C. and panelists, Deanna Gregory (Pacifica Law Group), Drew Kintzinger (Hunton & Williams), and Randy Curato (ALAS), will discuss conflicts of interest, the necessity and benefits of utilizing an engagement letter and other Model Rules that bond counsel need to consider in any engagement. The cost is $195 for members ($400 for non-members). The registration deadline is Monday, December 11, 2017; register today and fulfill your ethics CLE requirements. All registrants will receive the teleconference materials and dial-in instructions via email on Wednesday, December 13, 2017.

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MSRB Sends Letter to SEC Investor Advocate on Muni Market Practices  

The Municipal Securities Rulemaking Board (MSRB) sent a letter to the Securities and Exchange Commission’s (SEC) Office of the Investor Advocate, identifying practices in the municipal market that could potentially impact retail investors. The letter, sent in response to an SEC request, identified disclosure practices as an ongoing concern to the MSRB.

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IRS Withdraws Proposed Political Subdivision Regulations

The IRS has withdrawn its proposed regulations on the definition of political subdivision, an action the Treasury Department recommended in its final report for reducing the burden of significant tax regulations. 

NABL previously urged Treasury to withdrawal the proposed regulations, warning that they would cause disruption in the municipal market, including creating significant uncertainty about whether governmental organizations qualify as political subdivisions because of multiple facts and circumstances tests.

You can find the notice of withdrawal of the proposed regulations here.  It is expected to be published in the Federal Register on Friday, October 20, 2017.

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