July 8 A California school district has agreed
to settle U.S. Securities and Exchange Commission charges that
it misled investors by omitting required disclosures when it
conducted a $6.8 million bond offering in November 2010.
The SEC said on Tuesday its settlement with the Kings Canyon
Joint Unified School District is the first under an initiative
by the federal regulator to address materially inaccurate
statements in municipal bond offering documents.
Without admitting or denying the SEC's findings, Kings
Canyon agreed to adopt written policies for its disclosure
obligations, cooperate with any future SEC enforcement probes
and disclose terms of its settlement in future bond offering
(Reporting by Jonathan Stempel in New York, editing by G