Securities and Exchange Commission chairman Arthur Levitt wants to play an active role in a voluntary effort by municipal bond executives to reduce or eliminate political contributions, an official at the commission confirmed.

Levitt, who was sworn in as SEC chairman on July 27, has called for a private meeting in mid-October with a group of top executives from the Wall Street investment community who have initiated an effort to ban most if not all business-connected political contributions made by employees of their firms, sources with knowledge of the meeting said.

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