WASHINGTON — At the request of the Securities and Exchange Commission, the Municipal Securities Rulemaking Board is moving forward with rule changes for priority of orders in primary offerings. The changes are more in line with the original proposal the MSRB floated late last year rather than a pared-down version it agreed to in April.

Market participants said the rule changes show that the SEC — which signs off on all MSRB proposals — will continue to play a key role in setting the board’s agenda, even though the MSRB gained significant new regulatory authority under the Wall Street reform bill signed into law this week.

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