The Securities Industry and Financial Markets Association has upped the ante in its dispute with the Municipal Securities Rulemaking Board over the self-regulator’s proposal to nearly double the fees it collects from dealers, warning that the MSRB must do a better job of explaining the need for the increase.

In a three-page comment letter filed Thursday with the Securities and Exchange Commission, the industry group said an explanation of the fee hikes the board submitted to the SEC on Nov. 19 is insufficient.

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