WASHINGTON -- The SEC staff will probably recommend that the commission finalize its proposed disclosure guidance in the fall rather than repropose it for another round of public comment, municipal bond market participants said after meeting with the SEC staff yesterday.

"The sense that I had is that they want to get it right the first time, and then they want to have a Continuing dialogue with the market to make sure it's working," said R. Fenn Putman, chairman of the Public Securities Association, who was one of several officials representing 10 municipal market groups that met with the Securities and Exchange Commission staff yesterday to air their concerns about disclosure guidance that the SEC issued last March.

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