previously he was the general counsel of isda since 1997. prior to joining isda he was in the legal department of an international oil and gas company from 1919 to 1997 -- 1991 do 1997. our fourth witness is christopher whalen, but mr. whalen is a proud resident of hudson, new york. they provide consulting services for audit tore, regular laters and he consults with global companies on a variety of financial and regulatory issues and the regional director of the professional risk managers international association and is a board adviser to a global business security risk in asia. -- huh, hu, would you please begin. >> mr. chairman and distinguished members, thank you for this opportunity. i teach at the university of texas law school and my testimony reflects my view as an academic. i agreed to be working at the securities & exchange commission. i emphasize that i'm currently a full-time academic, have been so for over two decades and after this forthcoming government service will return to my normal academic duties but i will say tied does