WASHINGTON - The National Federation of Municipal Analysts plans to highlight the need to improve disclosure rules in a paper that will dovetail with and expand on the muni market initiatives announced by the Securities and Exchange Commission last year, the NFMA's new chairman, Rob Yolland, said in a recent interview.

The NFMA plans to address the quality of disclosure, its timeliness, as well as the problems with the enforceability of existing disclosure rules, said Yolland, senior vice president at Franklin Templeton Investments in San Mateo, Calif. The paper will generally support the initiatives unveiled by SEC chairman Christopher Cox and will refute arguments made by other muni market groups that say they are not needed.

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