WASHINGTON - The Municipal Securities Rulemaking Board this week plans to send to key lawmakers and federal regulators recommendations for regulating guaranteed investment contract brokers and financial advisers in the municipal market that are not currently subject to regulation.

The recommendations were discussed at the MSRB's meeting last week in New Orleans. They come after the board released a statement last month strongly urging the regulation of such market participants, citing concerns that ongoing federal investigations tied to investment advisers had created widespread confusion over how the market is regulated.

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