WASHINGTON — The Securities and Exchange Commission issued a long-awaited report on the $3.7 trillion municipal securities market Tuesday that recommended at least 15 major legislative and regulatory changes to improve disclosure and price transparency for retail and other investors.

The recommendations include asking Congress for authority to establish enforceable disclosure standards for muni issuers, allowing the Internal Revenue Service to share muni audit information with the SEC, urging the Municipal Securities Rulemaking Board to require dealers to execute muni orders at the best possible prices, and disclosing markups and markdowns of riskless principal transactions.

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