The report stresses the need to prescribe qualifications for derivative brokers/dealers but doe not prescribe the same for regulators. I suggest that officers charged with the responsibility of regulating the derivatives market should be imparted intensive training like that prescribed for broker/dealers. Only then, they will have capability to regulate the complex derivatives market. Until this is done it would be extremely dangerous to allow trading in derivatives as options markets are new homes for insider traders even in the U.S. Between September, 1996 and April, 1997 there were unusual activities on the five U.S. Options exchanges (Wall Street Journal - January 23, 1997)