ST. PETERSBURG, FLA. -- The municipal bond industry does not need regulation by Congress or the Securities and Exchange Commission to ensure adequate disclosure, the head of a national municipal analysts' group said Friday.

"I want to reaffirm our position that the industry should pursue voluntary disclosure," said Katherine R. Bateman, chairwoman of the National Federation of Municipal Analysts. "We are not supportive of [SEC Chairman Richard] Roberts' stance" that further regulation is needed.

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