WASHINGTON -- Problems in the municipal securities market will be one of several issues Securities and Exchange Commission Chairman Richard Breeden will discuss tomorrow at a hearing held by the Senate Banking Committee's subcommittee on securities, panel aides said yesterday.

Mr. Breeden, who is the sole witness at the session, will also testify on the SEC's budget authorization request for fiscal years 1992-1994; shareholders' rights, proxy reform, and corporate governance issues; progress on implementing the new enforcement authority granted to the SEC by Congress last year; and future agency challenges, such as globalization of the securities markets, aides said.

The subcommittee's chairman is Sen. Christopher Dodd, D-Conn., who already has held one hearing this year on issues facing the municipal securities market, including the impact of the Tax Reform Act of 1986 and the need for better disclosure.

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