The Securities and Exchange Commission has been making a lot of headlines in the municipal market lately with its campaign to curb political contributions, improve secondary market disclosure, and get a handle on the risks involved in derivative products.

But the agency also has been making its views known, albeit in a much quieter way, on another subject of keen interest to municipal securities firms: When is the markup on a bond excessive?

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.