The Securities Litigation Expert Blog

Jack Duval Publishes Municipal Bond and MSRB Rule E-Book

Posted by Jack Duval

Oct 26, 2016 10:27:08 AM

I am pleased to announce the publishing of a new e-book focused on the municipal bond market and MSRB Rules.  

Detroit_Packard_Plant_-_shutterstock_115828237.jpgAbandoned Packard factory in Detroit.

The book covers many topics, including:

  • The continued deterioration of municipal fundamentals;
  • The municipal bond rating whipsaw since 2007;
  • Background on the MSRB;
  • Anti-fraud and fair dealing rules;
  • Suitability rules;
  • Due diligence requirements;
  • Disclosure obligations;
  • Affirmative discosure requirements;
  • Informed consent, and;
  • Supervision.

The book is available for download on Amazon's Kindle for $9.99, or you can download the PDF by clicking on the link below.

Click to Download E-Book

To learn more about author Jack Duval, click here.


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Topics: disclosure, suitability, supervision, Due Diligence, municipal bonds, msrb, anti-fraud, informed consent, fair dealing

Finra Focus on High Risk Municipal Bonds

Posted by Jack Duval

Feb 6, 2013 3:36:00 AM

The Bond Buyer has an article out on high risk municipal bonds and Finra's focus on them.  (BB)  Anyone who has been around the muni market knows there are risks, especially with exotic revenue bonds.  Some types of issues that gave concern included:

  • Private Community-Development District Bonds - 16.56% default rate

  • Nursing Home Bonds - 3.97% default rate

  • Assisted-Living Facility Bonds - 4.48% default rate

Finra cited a study by Richard Doty, which can be found here.

Our previous coverage of Finra focus areas can be found here.
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Topics: FINRA, Bond Buyer, default, investments, municipal bonds, Richard Doty, risk, fixed income, Compliance, regulation.

Libor Liability Estimate Update: $6 billion

Posted by Jack Duval

Oct 12, 2012 4:20:54 AM

The latest liability estimate for the Libor scandal is in at $6 billion for municipal bonds, writes Darrell Preston of Bloomberg.  (Bloomberg)  The estimate comes from Swap Financial Group.  The size of the muni swap market is estimated to be about $500 billion, so the $6 billion estimate comes in at 1.2 percent.

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Topics: Bloomberg, Darrell Preston, Swaps, LIBOR, litigation, Swap Financial Group, municipal bonds

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