WASHINGTON - Rep. John Dingell, D-Mich., told federal regulators he may introduce legislation aimed at speeding up the disciplinary procedures used to try to get "truly bad apples" out of the securities business, including any municipal dealers.

"We intend to schedule oversight hearings on this issue and are considering necessary and appropriate amendments to the Securities Exchange Act of 1934," the chairman of the House Energy and Commerce Committee said in a Nov. 15 letter to Arthur Levitt Jr., chairman of the Securities and Exchange Commission and Charles A. Bowsher, comptroller general of the General Accounting office.

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