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MuniMae reaches settlement with SEC

Municipal Mortgage & Equity, better known as MuniMae, said it has reached a settlement with federal securities regulators that will allow the Baltimore company's suspended stock to trade once more.

In a conference call Tuesday, CEO Michael Falcone apologized for the disruption to shareholders, but added that the company was pleased with the settlement.

The Securities and Exchange Commission last month temporarily suspended trading in MuniMae, which trades over the counter under the symbol MMAB, because of late or missing filings between 2006 and 2010. Falcone said the company, which owns and manages tax-exempt bonds for affordable housing developments, has made on time filings since 2011.

Under the settlement, the SEC revoked the registration of MuniMae's common shares, and subsequently the company re-registered its shares with the regulator.

Copyright © 2015, The Baltimore Sun
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