A Securities and Exchange Commission official yesterday said that staff are developing an "action plan" to boost municipal disclosure and accounting standards through new rulemaking or legislation.

Speaking on a regulatory reform panel at the Council of Infrastructure Financing Authorities' federal policy conference here, Mary Simpkins, senior special counsel in the SEC's Office of Municipal Securities, highlighted a number of general areas "that need continuing improvements." They included stale and incomplete disclosure, pay-to-play conflicts, inconsistent and voluntary accounting standards, as well as the use of muni derivatives products and their disclosure.

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