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"This is an outrageous abuse of power by the SEC," Pizzi said. "Mr. Boudreaux was an employee of the city who made recommendations on filling budget gaps. Mr. Boudreaux was not responsible for decisions made by the mayor, the city manager and the commissioners." The SEC's action also charges the city of Miami with violating an SEC cease-and-desist order that was entered against the city in 2003 based on similar misconduct. This is the first time the SEC has alleged further wrongdoing by a municipality subject to an existing SEC cease-and-desist order. A telephone message and email seeking comment from the city of Miami weren't immediately returned.
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