SIFMA has filed a comment letter with the Securities and Exchange Commission scrutinizing the Municipal Securities Rulemaking Board's proposal to almost double fees collected from dealers. "The board should -- but has not -- provide a detailed budget for its current fiscal year to justify such an inordinate increase," wrote Michael Decker, managing director and co-head of the municipal-securities division at SIFMA. "Other than the generalizations contained in the Nov. 19 letter, the MSRB's plans and the related costs remain hidden."

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