Municipal Bond Flippers Denied Rehearing In SEC Judgments Appeals

Mealey's (February 9, 2023, 3:05 PM EST) -- SAN DIEGO — A Ninth Circuit U.S. Court of Appeals panel issued a pair of orders denying rehearing of its ruling upholding a federal district court’s entry of judgment against three unregistered new-issue municipal bond traders in a Securities and Exchange Commission enforcement action alleging that the traders violated federal securities law by taking part in a fraudulent municipal bond “flipping” scheme....