CHICAGO - Warning that there may be problems in retail trades of speculative bonds, the Municipal Securities Rulemaking Board will call next week for broad industry input on the adequacy of three of its customer protection rules.

"The board has received reports that problems have arisen with respect to retail transactions in municipal securities with speculative elements, such as unrated and conduit bonds," the board will say according to a draft of its quarterly report, MSRB Reports, being mailed to dealers.

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