A group of 14 regional broker-dealers have formed the Regional Bond Dealers Association, a new trade organization based in Alexandria, Va., tofocus on municipal bonds and other fixed-income securities.

The group, which opened its doors Monday after months of planning, comes after some regional broker-dealers had complained that they were not receiving enough attention to their issues from the Securities Industry and Financial Markets Association, a much larger industry group that oversees equities and fixed-income securities and has offices around the world.

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