Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

SEC Says BNY, Oppenheimer Broke Muni Offer Disclosure Rule (1)

Sept. 13, 2022, 4:15 PM

Bank of New York Mellon Corp., TD Securities Inc., Jefferies Financial Group Inc., and Oppenheimer & Co. Inc. units didn’t comply with disclosure rules when selling municipal bonds to investors, according to the US Securities and Exchange Commission.

The SEC said on Tuesday that the four underwriters improperly relied on an exemption when offering new issue munis. BNY Mellon Capital Markets, TD Securities and Jefferies each agreed to settle cases with the regulator without admitting or denying wrongdoing. The SEC filed its case against Oppenheimer in federal district court in Manhattan, alleging the violations ...