WASHINGTON -- The Municipal Securities Rulemaking Board has elected five new members to three-year terms beginning Oct. 1, including two each representing securities firms and bank dealers and one representing issuers and the public, the board announced last week.

The board consists of 15 members, with five each representing bank dealers, securities firms, and the public. At least one public member must be an issuer and another must be an investor. The board selects five new members and a new chairman annually.

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