Harvey, Illinois, faces renewed scrutiny of 2014 SEC consent agreement

Link: https://fixedincome.fidelity.com/ftgw/fi/FINewsArticle?id=202101211503SM______BNDBUYER_00000177-2650-dd2a-a17f-f7d29f810001_110.1#new_tab


A federal judge ordered Harvey, Illinois, to rehire a consultant and prove the status of management reforms the city agreed to in a 2014 consent judgment that settled charges the Chicago suburb fraudulently used bond proceeds.

After a series of communications over the last year about the status of the impoverished city’s compliance, the Securities and Exchange Commission dragged the city back to court in October.

Author: Yvette Shields

Publication Date: 21 January 2021

Publication Site: Fidelity

Original Publisher: Bond Buyer