By Edith Orenstein, FEI Financial Reporting Blog - Members of Congress and others are increasingly talking about forming a single, systemic risk regulator for the financial markets, in hopes that it will be one singular sensation by viewing systemic risk holistically instead of under the current, largely piecemeal approach of functional regulation by type of entity (i.e., commercial banks, investment banks, insurance companies, corporate entities, futures and commodities firms, etc.). Whether the systemic risk regulator would be an expanded version of the Fed (envisioned under Treasury’s regulatory blueprint released earlier this year) or a new agency is something that will be debated. Read more here.