WASHINGTON The Securities and Exchange Commission is conducting at least two dozen investigations of possible abuses in the municipal bond market and could bring charges in some of those cases in three to six months, according to SEC enforcement officials.

William R. McLucas, the director of the SEC's enforcement division. said in an interview on Tuesday: "We have a couple of dozen inquiries underway that run the gamut from pay-to-play, [to] how underwriting and financial advisory business is obtained, [to whether] persons associated with the municipal issuer have relations or business with the underwriting firm ..."

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