WASHINGTON - Securities and Exchange Commission chairman Arthur Levitt said continued talks with securities firms are needed before the agency can provide a final report to Congress on guidelines for overseeing unregistered over-the-counter derivatives affiliates.

"I believe it is necessary to pursue our discussions with the firms before we can provide a final report to you'" Levitt said in a December 12 letter to outgoing House Energy and Commerce Committee chairman John Dingell, D-Mich.

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