House lawmakers are slated March 5 to hold the first in a series of hearings to examine how to improve the ability of the government to prevent private sector activities from putting at risk the stability of the U.S. economy.

Pennsylvania Democrat Paul Kanjorski, chairman of the Sub-committee on Capital Markets, Insurance, and Government Sponsored Enterprises, who convened the hearing, said it will assist the Financial Services Committee in crafting legislation to create a systemic risk regulator for the financial services industry.

The hearing will focus on securities, capital markets, insurance, and credit default swaps issues. Kanjorski said it will help lawmakers to “better define what systemic risk is and map out how we can protect against it.”

Among those scheduled to testify are former Congressmen Richard Baker and Steve Bartlett, president and chief executive of the Managed Funds Association and president and CEO of The Financial Services Roundtable, respectively; Orice Williams, director of Financial Markets and Community Investment in the Government Accountability Office; Therese Vaughan, CEO of the National Association of Insurance Commissioners; Robert DiMuccio, president and CEO of Amica Mutual Group and Timothy Ryan, President and CEO of the Securities Industry and Financial Markets Association.

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