WASHINGTON - House Financial Services Committee chairman Barney Frank plans to hold a hearing May 21 on an omnibus municipal bond bill his staff is drafting that is expected to include a provision to impose a "fiduciary" standard on financial advisers in the muni market.

Frank announced the hearing date and talked about the fiduciary provision at a hearing yesterday that focused mostly on the losses suffered by state and local governments that invested in debt issued by Lehman Brothers.

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