WASHINGTON -- Richard Breeden, chairman of the Securities and Exchange Commission, said Congress should consider giving the right to sue to securities firms harmed by illegal bank "tying" arrangements.

Some brokerage houses have accused banks of tying credit to certain forms of underwriting, barred by the Bank Holding Company Act of 1970.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.