The Securities and Exchange Commission said Friday that there needs to be greater compliance with so-called pay-to-play practices among underwriters and other professionals who deal with the municipal bond market. The agency listed four areas of concern. "We hope that by describing practices that our examiners have observed, we will promote compliance," said Carlo di Florio, head of the SEC's Office of Compliance Inspections and Examinations.

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SEC.gov, Reuters

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