WASHINGTON House members are likely to pass legislation tightening federal controls on derivatives unless market participants and regulators come up with their own set of reforms, the head of the General Accounting Office said Friday.

Charles Bowsher, the comptroller general, told reporters that securities dealers and other market participants are doing "a lot of things" to address the concerns raised by the GAO report of last May that recommended stepped-up regulation of derivatives.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.