Troy Paredes, one of five commissioners on the Securities and Exchange Commission, said that the agency needs economists, quantitative analysts and others who might have a better understanding of complex financial markets and products. "For an agency that regulates the world's largest financial markets to be so dominated by lawyers, is ill-advised," Parades said at the Securities Industry and Financial Markets Association annual Fixed Income Legal and Compliance Conference in New York. The agency needs more staff with "a deep understanding of financial markets," he said.

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