MSRB Issues 2018 Municipal Securities Fact Book

We are committed to fostering an environment that embraces each individual's unique background, experience and perspective.

How do some nonprofit organizations develop and prosper, while others appear passive and static? Thriving and effective nonprofit boards share some important characteristics, which do not include "boring" board meetings.

Since its establishment by executive order by President Ford in 1975, the Committee on Foreign Investments in the United States, popularly referred to as "CFIUS," has monitored national security...

Healthcare M&A activity maintained steady momentum through Q2 2026, driven by physician practice consolidation, AI-enabled technology acquisitions, and strategic outpatient expansion. Private equity investment persisted despite intensifying regulatory scrutiny of MSO arrangements, while digital health buyers paid significant premiums for platforms demonstrating production-grade AI capabilities and proprietary data assets.

On 30 September 2026, the SEC proposed rule amendments advancing Chairman Paul S. Atkins’ “responsible retailization” of private markets, expanding retail access to private-market strategies while adding key investor safeguards.

The SEC and CFTC have fundamentally shifted their enforcement approach in 2026, moving away from high-volume technical violations toward targeted actions addressing serious fraud and market manipulation. This mid-year update examines new leadership priorities, enhanced inter-agency coordination, revised cooperation policies, the elimination of "no-deny" settlement provisions, and a landmark Supreme Court ruling on disgorgement that collectively reshape the regulatory landscape for market participants.

Delaware continues to issue verified report notices that can require companies to certify their unclaimed property reporting and provide supporting information within specified deadlines.

As we look ahead to 2025, the landscape of debt financing and M&A activity is poised for significant transformation.

What Every Owner Needs to Know Before Signing on the Dotted Line

On September 30, 2026, the U.S. Securities and Exchange Commission (the “SEC”) published a series of notices[i] seeking public comment on significantly expanding the definition...

The final rule goes into effect on November 9, 2020.

In a registration filing with the SEC, an investment firm is seeking approval of a series of double-leveraged bullish and bearish exchange-traded funds ("ETFs") that each track the performance of a single U.S.-listed equity security.

The Surface Transportation Board has lifted its abeyance and established a procedural roadmap for the Union Pacific and Norfolk Southern merger proceeding, marking the official start...

The Federal Communications Commission is seeking public feedback on modernizing its accessibility framework to address rapid changes in consumer technology. The draft Notice of Proposed Rulemaking examines whether existing rules keep pace with today's communications marketplace or inadvertently hinder innovation in accessibility solutions.

California's Office of Health Care Affordability has approved sweeping new regulations that dramatically expand transaction review requirements for private equity groups, hedge funds, and management services organizations acquiring or investing in healthcare entities.

Landlords of rent stabilized buildings in New York City have filed a lawsuit challenging the rent freeze passed by the Rent Guidelines Board, questioning the Board's independence and data integrity. With operating costs rising 31% over five years while the Board voted 7-1 for a freeze affecting 1 million apartments, the case raises critical questions about the balance between tenant protection and landlord viability.

The Federal Communications Commission has amended its TCPA consent revocation rules, introducing category-specific opt-outs for informational robocalls and allowing callers to designate exclusive revocation methods. The changes aim to balance consumer control with operational flexibility while addressing concerns about the previous "revoke all" requirement that could inadvertently block wanted communications like fraud alerts and security notifications.

The U.S. Advanced Research Projects Agency for Health has launched SURPASS, a groundbreaking program designed to revolutionize clinical trial design through AI-powered simulations, real-time data analysis, and adaptive modifications. How will these innovations reshape pharmaceutical development timelines and maintain America's competitive position in the global drug development landscape?

FinCEN notified U.S. financial institutions that the Financial Action Task Force ("FATF") updated the list of jurisdictions with strategic deficiencies in combating anti-money laundering and countering the financing of terrorism ("AML/CFT").

The aerospace and defense sector faces unprecedented transformation driven by military conflicts, geopolitical competition, and government intervention reshaping program funding and structure across the United States and Europe. Companies are now expected to function as strategic partners in national security and technological leadership, operating within increasingly complex compliance environments while navigating expanded defense budgets, supply chain security requirements, and evolving procurement frame