WASHINGTON – Lawyers for three Republican groups will argue before a federal appeals court on May 4 that the court should vacate the Securities and Exchange Commission's approval of Municipal Securities Rulemaking Board rule changes that they say restrict the political contributions of municipal advisors.

The oral arguments are scheduled to be held before a panel of three judges of the Sixth Circuit Court of Appeals in Cincinnati, Ohio. The Republican groups' lawyers will have 15 minutes to present their case and the SEC and MSRB are scheduled to have 15 minutes of allotted time to share to counter the groups' claims. Attorneys for each of the parties involved in the case have filed court documents acknowledging the timing of the argument.

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