Regulators discuss Thursday's market crash

The meeting by regulators comes as Sen. Charles SchumerCharles (Chuck) Ellis SchumerOvernight Health Care: Schumer calls for tying ObamaCare fix to children's health insurance | Puerto Rico's water woes worsen | Dems plead for nursing home residents' right to sue Crying on TV doesn't qualify Kimmel to set nation's gun agenda Trump knocks ‘fake’ news coverage of his trip to Puerto Rico MORE (D-N.Y.) urged leaders of the nation's top exchanges to adopt system-wide circuit breakers that would have likely slowed or stopped the wild swing in the Dow last Thursday. 

The term circuit breaker refers to a series of safe guards that are triggered if the market fluctuates widely. Currently, the New York Stock Exchange is about the only place where they exist.

Schapiro is slated to testify before a House Financial Services subcommittee on Tuesday and lay out to lawmakers how regulators intend to tackle the issue.