WASHINGTON -- Rules extending anti-money-laundering suspicious-activity reports to the securities industry are "critical," Treasury Secretary Larry Summers said in a Feb. 1 letter to Rep. John Dingell, D-Mich., released Thursday.

Mr. Summers said Treasury's Financial Crimes Enforcement Network has been consulting with the Securities and Exchange Commission and the securities industry to devise an effective system for securities broker-dealers to detect and report suspicious transactions.

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