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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
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1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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State of New Jersey Charged for Fraudulent Municipal Bond Offerings |
Star Global Tribune - Aug. 23, 2010 - by Blake Hartman
New Jersey became the first state ever to be charged by the Securities and Exchange Commission (SEC) for violations of federal securities laws, when it was charged with securities fraud for misrepresenting and failing to disclose information to investors. The State of New Jersey agreed to settle the case, without admitting or denying any of the SEC’s findings.
Robert Khuzami, Director of the SEC’s Division of Enforcement, said: “All issuers of municipal securities, including states, are obligated to provide investors with the information necessary to evaluate material risks.
“The State of New Jersey didn’t give its municipal investors a fair shake, withholding and misrepresenting pertinent information about its financial situation.”
The case centered on charges that the State of New Jersey had made material misrepresentations and omissions about the underfunding of its Teachers’ Pension and Annuity Fund (TPAF) and its Public Employees’ Retirement System (PERS) in such bond disclosure documents as preliminary official statements, official statements, and continuing disclosures.
Elaine C. Greenberg, Chief of the SEC’s Municipal Securities and Public Pensions Unit, also commented on this case, “Issuers of municipal bonds must be held accountable when they seek to borrow the public’s money using offering documents containing false and misleading information. New Jersey hid its financial challenges from the very people who are most concerned about the state’s financial health when investing in its future.”
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Income Security Recommendation January 2013 Issue.
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