SEC Changes Tone on Muni Issuers and Fair Dealing Enforcement

June 5th, 2014 by Joseph S. Fichera 
NEW SEC MUNI ENFORCEMENT CHIEF SIGNALS BIG CHANGE IN ENFORCEMENT ACTIONS TO PROTECT MUNICIPAL ISSUERS  New “Core Focus” is Issuer as Potential “Victim” not Just “Perpetrator” On June 4, 2014 Bloomberg News published an interview with the Securities & Exchange Commission (SEC) Municipal Securities Enforcement Division chief, Lee Ann Gaunt.  She was “on the record” on several issues...

Securing the Grid

December 7th, 2010 by Joseph S. Fichera 
Intelligent financing creates new options for grid modernization By Michael Ebert and Joseph Fichera — Improving the delivery of electricity over the existing strained electric power grid through grid modernization-”smart grid”-is a national priority, but it is in danger of becoming another victim of the financial crisis. Federal economic stimulus funds from the American Recovery...

“But everybody is doing it.” Denver Board of Education and Synthetic Fixed Rate Swaps

August 6th, 2010 by Joseph S. Fichera 
As I noted in Friday’s (8/6/10) front page NY Times article attached, the Denver Board of Education was another issuer of a complex derivative deal who took on risks and wasn’t prepared for a downturn. Can risks be better known and managed? One help would be if the advisors weren’t also on the other side of the transaction. But equally important to remember is that, in the long...

Pension Funds at Risk?

March 11th, 2010 by Joseph S. Fichera 
Interview with Fox News: Pension Funds at Risk? Given while in San Francisco speaking at Bloomberg Conference. Follow up to Mary Williams Walsh incisive article in New York Times concerning expectations and efforts to keep the promises in public pension funds. Unfortunately, it is another crisis over the horizon.

Bloomberg Washington Summit: Reform corporate governance and the way governments access the capital markets

November 10th, 2009 by Joseph S. Fichera 
On Thursday November 12, Bloomberg LP is hosting a “Washington Summit.” I have been asked to speak on the neglected crisis in corporate governance and public sector finance.