previously he was the general counsel of isda since 1997.rior 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 no