WASHINGTON -- Improving secondary market disclosure in the municipal market is an important goal, but it will not come cheap, bond trustees are about to tell federal regulators.

"Trustees want to be paid reasonable fees and expenses" for their role in the process, said Jeffrey Powell, co-chairman of a new American Bankers Association task force. The group plans to spell out bond trustees' concerns to the Securities and Exchange Commission as the agency fashions standards for ongoing disclosure in the coming months.

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