WASHINGTON -- Rep. Edward Markey has asked Treasury Secretary Lloyd Bentsen whether legislation is needed to ensure that unscrupulous brokers do not migrate from securities firms to banks.

In a Nov. 1 letter, the Massachusetts Democrat told Bentsen he was alarmed by a recent General Accounting Office report that found that brokers who are disciplined for sales practice abuses in the securities industry can simply migrate to other financial services sectors such as the banking industry.

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