[inaudible conversations] good morning, everyone. Good morning. Our team is here. The subcommittee on Capital Markets and gics will be hereby called to order. Todays hearing is entitled continued oversight of the secs offices and divisions. Without objection the chair authorizes a recess of the subcommittee at any time and also without objection, members of the Financial Service committee who are not members of the subcommittee may still set and participate in todays hearing. At this point i will now recognize myself for three minutes for an opening statement. So today the Sub Committee will continue efforts to conduct vigorous oversight of the ics sec and the individual offices that make up the sec. The last years are subcommittee has heard testimony from directors of trading and market, corporations by its enforcement and Investment Management division of the sec. These hearings have allowed us to take a thorough look at the agencys operations, rulemaking agenda, enforcement practice
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