The Securities and Exchange Commission has begun developing a standard for ongoing disclosure in the municipal securities market and wants broad market input by January on what issuers should be required to disclose, the Municipal Securities Rulemaking Board's executive director said yesterday.

And in his strongest statement to date on other top issues before the board, Christopher Taylor said the giving of political contributions to get business in the municipal market will not be tolerated and will be punished." Taylor made his remarks at a packed luncheon sponsored by the Municipal Forum of New York.

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