On May 2nd, 2018 Bernardi underwrote a new issue for the Kalamazoo, MI Wastewater System. The debt was issued in order to fund various sewer projects throughout the city, including new and replacement mains, a pump, lift station improvements and treatment plant improvements. In its entirety, the system cleans up water that flows through approximately […]
Registered investment advisors (RIA) who purchase fixed income securities for clients, should have best execution in the forefront of their minds. In July 2018, the SEC Office of Compliance Inspections and Examinations (OCIE) issued a risk alert detailing a list of deficiencies seen in various RIA best execution policies and procedures. Additionally, the SEC watchdog, […]
Bernardi takes pride in the impact we have on local communities by assisting them and providing low cost tax-exempt and taxable funding for public purpose projects. Our impactful responsibility of marrying investors with issuers was recently demonstrated by various South Bend, IN Park District issues we underwrote. The bonds were issued to transform various parks […]
Ronald Bernardi is quoted in the most recent issue of InvestmentNews. Cost is one of the most important factors in helping a retail investor determine whether a bond strategy is appropriate and the bond manager is effective, said Ronald Bernardi, chief executive of Bernardi Securities Inc. “An investor is entitled to know what he or she […]
Justin Formas, Director of Municipal Credit Research, summarizes the key points of the market update below. For an introduction to Justin Formas, please read the November 2010 President’s Letter. The United States municipal bond market has drawn a great deal of media attention recently, and for good reason. Weakened revenue streams, looming pension problems, historically […]