In November 18, 2009 testimony, Gary Gensler, Chairman of the Commodity Futures Trading Commission, urged Congress not to include broad exemptions from regulation as Congress moves toward producing a single proposal for the comprehensive regulation of derivatives. Among other things, Chairman Gensler stated that “[s]tandard transactions involving end-users, such as corporations and hedge funds, should not be exempt from the transparency afforded by regulated exchanges and trade execution facilities.” Chairman Gensler’s comments appear to be in response primarily to the House Financial Services Committee’s proposed legislation that would exempt certain end-users from many of the new regulatory requirements.