WASHINGTON - Securities and Exchange Commission chairman Mary Schapiro says she is taking several steps to bolster the SEC's enforcement program and wants to address the inherent conflicts of interest inherent in the issuer-pays model at rating agencies. Meanwhile, a deputy director is pledging the agency will bring more muni cases this year.

Schapiro and deputy enforcement director George Curtis talked about the initiatives Friday at the Practising Law Institute's annual SEC Speaks conference. Curtis said the SEC's municipal enforcement working group plans to file enforcement cases involving manipulatory practices, insider trading, and disclosure failures in the municipal market. Reached later, he said that the focus of the cases would revolve around disclosure failures in the municipal market.

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