WASHINGTON — The Municipal Securities Rulemaking Board may boost its oversight of the derivatives market, including guaranteed investments contracts that are at the center of a bid-rigging investigation by the Justice Department and other federal and state agencies, an MSRB official said Tuesday.

The comment was made by the board’s executive director, Lynnette Hotchkiss, during a two-hour hearing before the Senate Banking Committee, entitled “Enhanced Investor Protection After the Financial Crisis.”

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