Treasury Official Calls For Global Revamp Of Financial Regs

Law360, Washington (March 3, 2014, 6:14 PM EST) -- Acting Deputy Secretary of the Treasury Mary Miller called on foreign regulators Monday to work together and create consistent global rules for the banking, derivatives and other financial markets, saying the industries need basic cross-border rules to help prevent another financial crisis.

Although the Treasury Department has seen “considerable progress” in their discussions about global financial standards, Miller claimed Treasury's foreign counterparts need to take more concrete action toward revamping their regulations to reflect the basic guidelines they've agreed to.

Miller noted that Treasury isn't advocating...
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