WASHINGTON -- Securities and Exchange Commission member Richard Roberts said he supports amending the MSRB's gifts and gratuities rule to make it clear that dealers may make contributions to legitimate charities as long as they are not designed to win bond business.

"Many have expressed concern that the Municipal Securities Rulemaking Board's Rule G-20 prohibits legitimate civic or community charitable contributions in excess of $100 per year," Roberts said in a speech Wednesday to the broker-dealer regulation committee of the District of Columbia Bar.

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