The Municipal Securities Rulemaking Board would have more leeway to select members on a 15-member majority-public board under a revised draft of financial regulatory reform legislation released yesterday by the Senate Banking Committee.

The committee announced it will begin debate on the bill Thursday, with members providing opening statements. Members will then have until Nov. 23 to submit amendments and the committee will begin consideration of them during the week of Nov. 30. A markup of the bill is tentatively scheduled for Dec. 2, sources said.

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