WASHINGTON - The Securities and Exchange Commission is considering asking Congress to amend the securities laws to allow it to impose additional disclosure requirements or "standards of care" on dealers marketing derivatives to small municipalities, Treasury Secretary Timothy Geithner told key members of Congress yesterday.

"Current law seeks to protect unsophisticated parties from entering into inappropriate derivatives transactions by limiting the types of counterparties that could participate in those markets. But the limits are not sufficiently stringent," Geithner said in a three-page letter to Senate Majority Leader Harry Reid, D-Nev., House Speaker Nancy Pelosi other lawmakers that he released at a press conference.

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