WALTHAM, Mass. — Regulatory efforts to improve municipal bond pricing transparency have resulted in lower prices paid by retail buyers of munis, according to preliminary results of a study on muni pricing and trading being conducted by former Securities and Exchange Commission official Erik Sirri.

Sirri, a finance professor at Babson College and former director of the SEC's trading and markets division, was among roughly 15 academics and muni market professionals who spoke Friday at Brandeis International Business School's 2012 Municipal Finance Conference.

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