WASHINGTON — The Securities and Exchange Commission would create a five-person office of municipal securities and a 35-member office of credit ratings, both of which would report directly to the chairman as mandated by Dodd-Frank, according to letters the SEC sent lawmakers.

The identical letters, which SEC chairman Mary Schapiro sent earlier this year to the heads of the House and Senate Appropriations subcommittees, seek permission to reprogram fiscal 2011 funds so that the commission can begin to create these and two other new offices mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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