Global Financial Regulators Float Trade Labeling Rules

Law360, New York (June 8, 2012, 11:17 PM EDT) -- International financial regulators on Friday proposed rules that would help financial authorities track and identify parties involved in potentially risky financial transactions, in response to directives from November's G-20 Cannes Summit.

The Financial Stability Board, which represents national banks and reports the progress of financial regulatory reforms to the G-20, said the Legal Entity Identifier system would help offer detailed information on counterparties to such transactions, including their addresses and basic ownership information, in order to help regulators and banks better monitor and assess risks....
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