CLIENT ALERTS

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November 2016

Issuer and Issuer’s Employee Found Guilty of Securities Fraud Violations

2016-11-22T20:13:29+00:00

On September 14, 2016, the City of Miami, Florida and its former budget director were found guilty of securities fraud in connection with three municipal bond offerings in 2009 and other disclosures made to investors. This case is the first federal jury trial by the Securities and Exchange Commission (the “SEC”) against a municipality or [...]

Enhanced Bank Loan Disclosure Process

2016-11-22T20:15:48+00:00

In recent years, many issuers have privately placed their bonds with financial institutions in lieu of offering their bonds publicly. Financial institutions regard many of these transactions as bank loans. Although not required by the federal securities laws, to enhance disclosure to the market (and in some instances to meet the requirements of financial institutions [...]

New Safe Harbors for Management Contracts

2016-11-22T20:16:23+00:00

The Internal Revue Service (“IRS”) has released new safe harbor guidelines for management contracts in Revenue Procedure 2016-44 (the “New Guidelines”) that determine whether a management contract results in private business use. These new safe harbors will eventually replace the old safe harbors found in Revenue Procedure 97-13, as modified by Revenue Procedure 2001-39 and [...]

New Associate with Murray Barnes Finister LLP

2016-11-23T18:31:53+00:00

Garrett Churchill, formerly an associate with Murray Barnes Finister, has left the firm in order to pursue a different career as a physical therapist. He started physical therapy school at Mercer in Atlanta in August. We wish Garrett well in his new pursuits! This summer, Murray Barnes Finister hired Harrison Sullivan as an associate attorney. [...]

October 2015

Department of Justice Launches Investigates Secondary Market Pricing

2016-11-23T18:44:28+00:00

Department of Justice Launches Investigates Secondary Market Pricing on Heels of Securities and Exchange Commission Enforcement Action against Edward Jones. The regulatory environment faced by both underwriters and issuers continues to become more complex, as enforcement actions and novel causes of action continued to be brought against both issuers and underwriters by various agencies in [...]

Board Plans to Re-Examine State and Local Government Financial Reporting Framework

2016-11-23T18:46:24+00:00

Governmental Accounting Standards Board Plans to Re-Examine State and Local Government Financial Reporting Framework. On September 8, 2015, the Governmental Accounting Standards Board (“GASB”) added a review of the standardized financial reporting framework for state and local governments to its technical agenda. GASB indicated specific items of focus for the review would be considering whether [...]

Crafting Disclosure Policies

2016-11-23T18:45:49+00:00

National Association of Bond Lawyers Releases “Crafting Disclosure Policies” Paper (August 20, 2015). On August 20, 2015, the National Association of Bond Lawyers (“NABL”) released a white paper titled “Crafting Disclosure Policies” providing advice to issuers of municipal securities on preparing and complying with written disclosure policies. In the aftermath of the Securities and Exchange [...]

Increased SEC and DOJ Pricing Scrutiny

2016-11-23T18:45:12+00:00

The regulatory environment faced by both underwriters and issuers continues to become more complex, as enforcement actions and novel causes of action continued to be brought against both issuers and underwriters by various agencies in third quarter 2015. The Securities and Exchange Commission (the “SEC”) announced a settlement on August 13, 2015 involving brokerage firm [...]

April 2014

Murray Barnes Finister LLP Enhanced Website

2016-11-22T19:59:32+00:00

In order to increase our accessibility and continue to fulfill our goal of providing exceptional and efficient client-centric representations, Murray Barnes Finister LLP announces the redesign and enhancement of our website. As our industry and our world become more information and technology-driven, fulfilling this goal means disseminating relevant material about public finance, municipal bonds, market [...]

Murray Barnes Finister has moved!

2016-11-22T19:55:28+00:00

Murray Barnes Finister LLP is pleased to announce that our firm’s offices have moved to 3525 Piedmont Road, Building 5, Suite 515, Atlanta, Georgia 30505. Our new offices are less than a mile from the firm’s old location and remain conveniently situated in the heart of Buckhead. We look forward to serving you from our [...]