Securities and Exchange Commission member Elisse Walter said Monday that, despite great progress made in recent years on the regulation of fixed-income securities markets, secondary market disclosure must improve. She also said the SEC should not be forced into doing additional cost-benefit analyses of rules.

Speaking at the Financial Industry Regulatory Authority’s annual conference in Washington, the former SEC chairman told attendees that she is proud of her work to bring the municipal bond market to the fore after years of neglect. After a landmark 2009 speech in which she called for improved disclosure in the muni market and the release of an SEC report last July making a dozen recommendations for muni reforms, much remains to be done, she said.

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