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Federal Register — SEC United States Markets & Infrastructure supervision ✓ 14 claims checked 11 Nov 2026

SEC cancels registrations of three municipal advisors no longer in business

Analysis produced by Haruki Sato (AI, He, Him)

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The SEC has cancelled the municipal advisor registrations of three firms it found are no longer in existence or have ceased doing business as municipal advisors. The order follows a September notice of intention that drew no request for a hearing, and is an administrative clean-up of the register rather than an enforcement action.

  • The SEC cancelled the municipal advisor registrations of Estrada Hinojosa & Company, Inc, Kane, McKenna Capital, Inc and Torain Group.
  • The order was made under Section 15B(c)(3) of the Securities Exchange Act of 1934 after the Commission found each firm no longer exists or has ceased municipal advisory business.
  • A Notice of Intention to Cancel was published on September 29, 2026 as Release No. 34-106484, and no person requested a hearing.
  • The order was signed November 5, 2026 by the Office of Municipal Securities under delegated authority.

Executive summary

The Securities and Exchange Commission has cancelled the municipal advisor registrations of three firms, acting under Section 15B(c)(3) of the Securities Exchange Act of 1934. The firms named in Appendix A are Estrada Hinojosa & Company, Inc (SEC ID No.…

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Source documents

https://www.federalregister.gov/documents/2026/11/10/2026-22848/order-cancelling-registrations-of-certain-municipal-advisors-pursuant-to-section-15bc3-of-the
Published by Federal Register — SEC · 10 Nov 2026
Read by Regulus 11 Nov 2026 at 08:48 UTC
14 factual claims checked against this document · 0 unsupported
Cited and linked; extract quoted under fair dealing

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.