WASHINGTON - First Southwest Co. vice chairman Michael Bartolotta has left his securities dealer seat on the Municipal Securities Rulemaking Board, following the November purchase of First Southwest Holdings Co. by PlainsCapital Corp., the second-largest privately held bank in Texas.

Though First Southwest has kept its name and continues to function as a broker-dealer and a financial adviser operating as a subsidiary of PlainsCapital, Bartolotta said it is legally unclear if a FirstSouthwest employee should remain in a securities dealer seat on the 15-member board. His last official day at the MSRB was Dec. 31 and his departure means the board must find someone else from a securities firm to fill the seat.

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