US states and municipalities face a daunting challenge — and added costs — girding against weather that’s becoming more extreme. Now a niche market is springing up for investors who are looking to target their dollars toward projects aimed at mitigating those risks.

The US Securities and Exchange Commission was sued by a conservative think tank and a pair of individual investors who claim the regulator’s new market surveillance tool violates their constitutional privacy rights.

<-bsp-bb-link state="{"bbHref":"bbg://securities/1855789D%20US%20Equity","_id":"0000018e-e828-d583-afbf-eafc72490000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Riverside Co. is exploring strategic options including a sale of its direct lending arm, Riverside Credit Solutions, according to people with knowledge of the matter.

Dealmaking is back! At least that’s what it looks like after the big five US investment banks reported a 27% increase in first-quarter fees from mergers, takeovers and fund raising than the same period last year. Beneath the surface, the recovery is patchy and the bullish outlook of many Wall Street executives relies on private-equity firms getting back into the game.

Fannie Mae is selling agency mortgage backed securities designed to appeal to socially minded investors, as the mortgage giant looks to draw more buyers into the market to help fill a void left by the Federal Reserve stopping purchases.

Texas’s chief financial officer told bankers on Tuesday that he wants as many companies involved in the <-rte-company state="{"_id":"0000018e-e7a0-d583-afbf-e7fc7e240000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">state as possible even as probes into banks’ ESG policies threaten their ability to do business.