WASHINGTON -- Rep. John Dingell, D-Mich., suggested for the first time yesterday that the SEC and other federal agencies might be able to oversee and regulate derivatives without new legislation.

"I am encouraged by the actions taken to date and planned by our financial regulators to address the significant issues raised by financial derivatives," Dingell said in a written statement issued in response to recent letters from the Securities and Exchange Commission and the Treasury Department.

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