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Standing Up for Fiscal Sanity

Rocky Hill, CT – Yankee Institute Executive Director Fergus Cullen appeared on the Connecticut Business and Industry Association’s “State Fiscal Issues” panel on Friday, September 10, 2010 at the Rocky Hill Marriott. With the State of Connecticut facing a potential $3.5 billion budget deficit and fiscal issues at the forefront ...

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Town of Fairfield receives “cease and desist” order from U.S. Securities and Exchange Commission

The Securities and Exchange Commission censured the town of Fairfield last month for failing to file timely financial reports and disclose that information in their bond offering documents. Fairfield told investors that it had only been late on its 2009 and 2010 reports. According to the SEC, “this was materially misleading because Respondent filed its fiscal 2006, 2007, and 2008 audited financial statements by 1,384, 1,017, and 652 days late, respectively.” The SEC goes on to say that the Town of Fairfield “knew or should have known that this statement was untrue.”

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Marc E. Fitch

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