Securities and Exchange Commission Chairman Arthur Levitt Jr. yesterday blasted a municipal issuer group that recently asked its members not to hire bond underwriters that support a ban on political contributions.

The chairman's remarks, made in a telephone interview with The Bond Buyer, came as executives representing 19 of the municipal market's largest players met at SEC offices in New York City to finalize an accord banning campaign contributions to state and local officials that choose bond underwriters.

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