WASHINGTON - Legislation to strengthen regulation of the government securities market was approved by the House securities subcommittee yesterday amid signs a compromise is being negotiated to overcome disputes that contributed to the bill's death last year.

The legislation, approved on a voice vote by the House Energy and Commerce Committee's telecommunications and finance subcommittee. is exactly the same as the measure introduced in January by Rep. Edward J. Markey, D-Mass., the panel's chairman.

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