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It has been publicly reported that the Dallas office of the SEC is currently engaged in an investigation of ESG disclosures by companies doing business with state government entities in Texas.
Unregistered municipal advisor activity and breaches of fiduciary duty remain priorities.
The SEC and DOJ each announced fraud charges against five Russian nationals. The five defendanant are charged with a multiyear scheme of hacking into service providers that help public companies make quarterly and annual filings with the SEC through the EDGAR filing system.
The defendants are raising questions about due process and the definition of fee-splitting arrangements.
"The vast majority of muni issuers are trying to do the right thing,” Zehner said. “The vast majority of underwriters and municipal advisors are trying to do the right thing.”