Rochester, N.Y., Has Settled SEC Case With No Monetary Penalty.

The Securities and Exchange Commission (SEC) lawsuit against Rochester, New York, and its former finance director Rosiland Brooks-Harris has been settled with no monetary penalty or financial monitor. The city accepted the terms without admitting or denying the findings, and Brooks-Harris has been permanently enjoined from participating in municipal securities activities. The SEC charged Rochester, Brooks-Harris, and others with misleading investors in a bond offering, but the city officials are treating the settlement as a win, emphasizing the independence of the Rochester City School District from the city's fiscal oversight. [Extracted from the article]

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