The Municipal Securities Rulemaking Board's ban on political contributions should be repealed, or narrowed solely to a reporting and disclosure requirement, to avoid infringement of individuals' civil rights and an unfair impact on women and minorities, a securities professionals' trade association said last week.

If the MSRB and the Securities and Exchange Commission are unwilling to alter the rule, then "its potentially negative impact on minority security professionals and minority public officials must be studied and monitored over the next two years," the group, the National Association of Securities Professionals, suggested.

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