A member of the House Financial Services Committee next week plans to propose an amendment to financial service legislation that would require that a study be done on the regulation and oversight of financial planning. Rep. Michael Capuano, D-Mass., “is considering an amendment to do a study” of whether advisers should be brought under an SRO, said Jon Lenicheck, a spokesman for Mr.

The House Agriculture Committee approved legislation Wednesday beefing up regulation of the kind of opaque derivatives many blame for causing the financial crisis, but while proponents celebrate, critics say the bill exempts some transactions involving the very institutions — big banks — most responsible for the collapse. Over-the-counter (OTC) derivatives — essentially privately-negotiated derivatives contracts — aren’t traded on exchanges nor do they pass through clearinghouses. These contracts, which can act either as insurance (to transfer risk) or as a simple bet (like what many say brought down AIG), have been blamed for accelerating what was a credit crisis into a full-blown financial crisis and subsequent recession.