New & Noteworthy
Registration continues for the NFMA's January Advanced Seminar, Local Governments in Crisis, to take place on January 26 & 27 in Salt Lake City. Stephen Spencer, Managing Director in Houlihan Lokey’s Financial Restructuring Group, will be the luncheon speaker. To view the program, click here: Program.To register, click here: NFMA Advanced Seminar, Salt Lake City
In Memoriam: The NFMA would like to express its sympathies to family, friends and colleagues of NFMA member Larry Levitz, Fitch Ratings, who died unexpectedly on November 16.
The NFMA is pleased to announce the recipient of the third annual Fugiel Scholarship. Michael Foley, MPA candidate at the Cornell Institute for Public Affairs at Cornell University was selected for the award. Recipients of the award are given a scholarship to attend the NFMA's Introduction to Municipal Bond Credit Analysis, held each fall in Philadelphia. To read the press release, click here.
The NFMA has submitted a response to the MSRB's request for public input on its long-term priorities "to help guide the strategic direction of the organization". The NFMA's comment letter, dated November 10, 2016, can be found by clicking here.
The NFMA Disclosure Committee released the draft Recommended Best Practices in Disclosure Charter School Disclosure (Primary Offering & Continuing Disclosure). Comments will be taken through November 30, 2016. To view the paper, click here. To read the press release, click here.
The NFMA issued a comment letter to the SEC on Primary and Secondary Market Disclosure in the Municipal Market. To view the letter, click here. To read the press release, click here.
The NFMA released a draft White Paper on General Obligation Bond Payments: Statutory Liens and Related Disclosures on July 13. Click here to download the paper, and here to read the press release.
The new issue of the Municipal Analysts Bulletin, Vol. 26, No. 2, is posted. Catch up on committee and society news, plus see photos from last month's Annual Conference in Chicago. Find this and back issues of the newsletter under Publications/Newsletters.
Worth a read: MSRB’s op-ed on May 13 in Governing magazine warning about the risks of inadequate bank loan disclosure by municipal securities issuers. The MSRB is very concerned that municipal bondholders do not have access to information about the amount and terms of bank loans. Today’s op-ed by Executive Director Lynnette Kelly follows the MSRB’s recent concept proposal on improving bank loan disclosure and a joint regulatory notice with FINRA addressing when a bank loan may in fact be a security. The MSRB intends to continue advocating for enhanced transparency of bank loans and private placements.
The NFMA presented awards to seven at its Annual Conference in Chicago on May 4. To view the press release, click here: Press Release
The NFMA's 33rd Annual Conference took place in Chicago at the Westin Michigan Avenue on May 3-6. To view the program and handouts, log into the Member Center and open Meeting Handouts.
The February 2016 Municipal Analysts Bulletin is now available online. Click here to read it.
NFMA members are being asked to participate in a survey on the current state of municipal disclosure. Members may access this survey by clicking on the following link: NFMA Disclosure Survey
Fugiel Scholars Announced - The NFMA is pleased to announce that two students have been awarded the Fugiel Scholarship for 2015. Susanne Siebel (SUNY Albany) and Allison LeMay (Indiana - Bloomington) were selected for this scholarship, and both students attended the NFMA's Introduction to Municipal Bond Credit Analysis in Philadelphia on November 12 & 13. Click here to read the press release: Press Release
The NFMA's Education Committee will hold the Advanced Seminar on Higher Education on January 14 & 15 at the Arizona Biltmore in Phoenix. An exciting slate of experts has been assembled. The Keynote Speaker will be Michael M. Crow, 16th president of Arizona State University.
To view the program, please click here.
To register for this event, please go to Online Registration.
The Board of Governors of the NFMA announced on October 21, 2015 that it had approved the application of the Philadelphia Area Municipal Analyst Society (PhAMAS) as its seventh constituent society, effective January 1, 2016. Members of PhAMAS, currently thirty in number, will automatically become members of the NFMA on that date. Click here to read the press release.
Meeting handouts from last week's Advanced Seminar in Nashville, Understanding The New Paradigm Of Municipal Pension Liabilities, are posted in the Member Center under Meeting Handouts.