WASHINGTON - The municipal market should no longer be overseen by a self-regulatory organization led by securities and bank dealers, Thomas Doe, chief executive officer of Municipal Market Advisors and a former MSRB board member, told a Senate panel yesterday.

The Municipal Securities Rulemaking Board should be folded into the Securities and Exchange Commission, which should expand its oversight over all financial tools and participants in the muni market, Doe told members of the Senate Banking Committee at a hearing on investor protection and the regulation of securities markets.

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