California Muni-Bond Lobbyist Focus of Regulator Payment Probe
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Payments to a California group that has spent $1.85 million on state ballot campaigns since 2000 are the focus of a Financial Industry Regulatory Authority probe, according to a letter received by at least some members.
Sent to participants in the California Public Securities Association, which raises money for ballot measures dealing with such issues as education and transportation, the Jan. 18 letter seeks information on such items as payments, any reimbursements received, the use of intermediaries and compliance policies. The group lobbies state officials for the municipal-bond industry.