With in-depth experience and a unique background, Bracewell defends state and local governments, financial firms and municipal advisors as well as their officers, directors and employees. We defend counsel and other municipal market participants in regulatory investigations and enforcement actions by the Securities and Exchange Commission (SEC), Department of Justice (DOJ), state attorneys general and Financial Industry Regulatory Authority (FINRA). We combine former government regulators and prosecutors in New York, Washington, D.C., Dallas and Seattle who have been active from the outset of SEC activity in the municipal bond market to provide our clients with knowledge and experience combined with proactive, innovative, efficient and consistent service, further enhanced by our nationally ranked public finance team.
Recent Notable Matters
Securities firms — investigations by the Attorney General for the Commonwealth of Massachusetts of potential violations of state false claims and consumer protection statutes relating to Build America Bonds and relating to alleged pay-to-play activities
Securities firms and employees — investigations by the SEC in investigations relating to Build America Bonds offerings, pre-offering pricing of municipal securities, and pre- Municipalities Continuing Disclosure Cooperation (MCDC) SEC investigation of disclosure and compliance with SEC Rule 15c2-12
State of Rhode Island — formal investigation by the SEC into pension disclosure successfully concluding with a closing letter without recommendation of further action from the Division of Enforcement
Three securities firms and seven issuers — voluntary submissions under the Securities and Exchange Commission (SEC) Municipalities Continuing Disclosure Cooperation (MCDC) Initiative
U.S. investment bank — response to a FINRA enforcement investigation of Municipal Securities Rulemaking Board (MSRB) rule violations seeking broad multi-million dollar penalties and individual sanctions, successfully negotiating entity-limited resolution with substantially reduced monetary fine and censure
U.S. securities firm — SEC and DOJ inquiry into municipal market investment bidding practices