Rep. John D. Dingell, D-Mich., the ranking minority member of the House Commerce Committee, has asked the SEC to investigate the lack of bond pricing information that might result in investors getting less than the best price when they buy or sell bonds.
In a letter to SEC Chairman Arthur Levitt Jr., Mr. Dingell also asked the SEC to study if the current structure of the bond markets also might create an anti-competitive atmosphere. He enclosed correspondence from Larry E. Fondren, president of the Integrated Bond Exchange, who has been attempting to create the nation's first bond exchange, and has charged that bond dealers are attempting to stifle competition.
Mr. Dingell also wrote a letter to Rep. Michael G. Oxley, R-Ohio, supporting his plans to hold a hearing Sept. 29 on bond market transparency.
