The Securities and Exchange Commission is striving to better protect investors in the municipal market, an agency official said. Mary Schapiro, chairman of the SEC, asked Commissioner Elisse Walter to hold public hearings to gain input on "designing a regulatory regime specifically for the needs of the municipal securities market." Michael Decker, managing director and co-head of the municipal-securities division at SIFMA, said the group "welcomes an examination by the SEC of the regulation of the municipal market and what changes may be warranted."

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