SEC penalizes muni-bond issuer and underwriter

The Securities and Exchange Commission has claimed that the municipal bond issuer Greater Wenatchee Regional Events Center Public Facilities District misled investors by failing to disclose key financial information. The Washington-state district has agreed to settle charges and will pay a $20,000 fine. Piper Jaffray & Co., the lead underwriter of the bonds, was fined $300,000.

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