Troy Paredes, one of five commissioners on the Securities and Exchange Commission, said 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," Paredes said at SIFMA's annual Fixed Income Legal & Compliance Conference in New York. The SEC needs more staff members with "a deep understanding of financial markets," he said.

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