U.S. House panel extends financial reform sessions

WASHINGTON Oct 15 (Reuters) - The U.S. House of Representatives Financial Services Committee's working sessions on financial regulation reform bills will be extended into next week, said committee Chairman Barney Frank on Thursday.

A session that had been scheduled for Friday has been canceled and the committee will reconvene on Tuesday, said Frank, a Democrat, at the opening of Thursday's session.

The committee is drafting and is expected to vote on proposed legislation to regulate over-the-counter derivatives, set up a financial consumer protection agency and other matters affecting hedge funds, insurers and brokerage. (Reporting by Kevin Drawbaugh; Editing by James Dalgleish)