SEC charges Harrisburg, Pa., with fraud, sends signal to municipalities

05/16/2013 | CFO.com

The Securities and Exchange Commission has charged Harrisburg, Pa., with fraud, accusing the city of misrepresenting material information in public statements. While the city has settled the charge, the SEC is using the allegation as a platform "to address the obligations of public officials relating to their secondary market disclosures for municipal securities," saying municipalities need to be aware that misleading public statements could lead to liability under federal securities law.

View Full Article in:

CFO.com