WASHINGTON May 6 U.S. regulators charged the beleaguered capital city of Pennsylvania, Harrisburg, on Monday with securities fraud for allegedly misleading public statements and financial information.
This was the first time the Securities and Exchange Commission has charged a municipality for misleading statements outside of its securities disclosure documents, it said about its investigation into Harrisburg's budget, annual and mid-year financial statements and a "State of the City" address.
The city is under state receivership after its finances were entangled in a complicated scheme for upgrading a trash incinerator.
U.S. regulator shuts First NBC Bank; Whitney Bank to reopen branches
April 28 A top U.S. financial regulator said on Friday that it closed the banking unit of First NBC Bank Holding Co, three days after the lender reported accounting issues dating back to at least 2015.