WASHINGTON - Michael F. Imhoff, a managing director at Stifel, Nicolaus & Co. in Denver, and Alan Murphy, senior vice president at Duncan-Williams Inc. in Memphis, have joined the Municipal Securities Rulemaking Board, the MSRB announced yesterday.

The two, each of whom has previously served on the board, will fill slots for securities firm representatives that were left vacant because of the restructuring of major Wall Street broker-dealers last month.

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