FORT LAUDERDALE, Fla. The Government Finance Officers Association's debt committee on Saturday proposed guidance that strongly discourages an issuer from allowing a dealer-financial adviser to switch roles and become the underwriter in a negotiated municipal bond transaction.

The guidance, which the committee proposed as additions to two recommended practices because of concerns about "inherent conflicts of interest" in such role switching, would go further than the Municipal Securities Rulemaking Board's Rule G-23 and is opposed by bond dealer trade groups.

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