Does Loss of Natural Assets Raise Public Borrowing Costs?

By Jitendra Aswani and William W. Xiong September 28, 2026 by renholding

Forests, fisheries, freshwater, and biodiversity are not only environmental resources. They also support economic activity and growth. When these natural assets deteriorate, the consequences can ripple through the economy and potentially affect the cost of government financing.

Governments are central …

SEC Chair Clayton Talks Fixed-Income Markets

By Jay Clayton November 5, 2019 by renholding

Thank you, Michael [Heaney]. Good morning everyone. Thank you all for being here and for traveling to our offices in New York.[1] Today’s agenda is full and important. You have assembled expert panels on (1) structured disclosures by municipal

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SEC Commissioner Jackson Delivers Remarks on Fixed-Income Market Structure

By Robert J. Jackson, Jr. November 5, 2019 by renholding

Good morning, and thanks to all of you once again for joining us at today’s meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC). Since my very first day on the Commission—when I began this job by attending my

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SEC Chairman Clayton Speaks to Fixed-Income Committee

By Jay Clayton August 2, 2019 by renholding

Thank you, Michael [Heaney]. Good morning everyone. Thank you all for being here. I want to extend a warm welcome to our newest Commissioner, Allison Lee — Welcome back to the Commission and to your first FIMSAC meeting. We have

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SEC Chair Clayton Talks Fixed Income Markets

By Jay Clayton January 12, 2018 by renholding

I am delighted to welcome all of you to the inaugural meeting of the Fixed Income Market Structure Advisory Committee, or “FIMSAC” as many of us like to call it.[1] This is a significant day for the Commission. There

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Shearman & Sterling’s 2016 Mid-Year Review of Securities Enforcement

By Claudius Sokenu, Mark Lanpher, Jeff Hoschander, Mallory Brennan and Brian Calandra July 29, 2016 by renholding

Executive Summary[1]

The Securities and Exchange Commission (SEC or Commission) brought over 400 enforcement actions in the first half of fiscal year (FY) 2016, and is on pace to surpass its record of 807 enforcement actions in a single …

Special Assessments

By Colin McCubbins September 23, 2015 by ilyabeylin

Local governments in the United States have long relied on special assessments to fund the provision of goods and services.[1] The assessment is a halfway house between the ad-valorem property tax that pays for public goods, such as schools …

Should Municipal Bond Issuers be Required to Disclose Bank Loans?

By Cate Long June 7, 2013 by Jason Parsont

You may be surprised to learn that municipal bond issuers are not required to disclose bank borrowings. I’ve heard numerous estimates that such issuers have outstanding bank borrowings in the $200 to $300 billion range, which would amount to approximately

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The CLS Blue Sky Blog

Columbia Law School's Blog on Corporations and the Capital Markets

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