Henry T.C. Hu, director of the risk division at the Securities and Exchange Commission, is voicing concern about Rep. Barney Frank's proposal to revamp regulation of the derivatives market. "Certain aspects of the discussion draft could unintentionally preserve existing regulatory gaps," according to Hu's prepared testimony. SIFMA and other business groups lauded the measure. Hu said it is a "step in the right direction," despite certain flaws.
Published in Brief: