SEC Blasts SIFMA In Bond And Swap Dispute

Law360, New York (August 28, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission told an Alabama court Wednesday that an amicus brief submitted by the Securities Industry and Financial Markets Association mangles applicable legal standards and is a “flawed piece of advocacy” for four defendants targeted by the SEC in a complaint related to municipal bonds and swaps.

The SEC filed its response in the U.S. District Court for the Northern District of Alabama, saying the court should give no weight to SIFMA's brief in deciding the defendants' motions to dismiss. SIFMA filed...
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