U.S. Rep. Edward Markey has reintroduced legislation he first proposed in 1994 to regulate the derivatives market.

The new measure, H.R. 7266, is the fourth round for the bill, with the latest version calling for creation of a framework to improve supervision and regulation of unregulated derivatives dealers, and for certain reporting requirements for hedge funds.

Meanwhile, the Securities and Exchange Commission and the Commodity Futures Treading Commission once again are haggling over which agency should have oversight authority for credit-default swaps.