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The Financial Stability Board (FSB), a global banking regulator has urged G20 leaders to take charge in financial regulatory mechanisms and singled out derivatives transactions reporting as a sector where more regulatory action is necessary. With the upcoming meeting of global leaders set for for next week in China, a set of new financial regulations is being suggested for discussion.
The removal of regulatory reporting exemptions on some derivative transactions has been the key take away from the list of recommendations made to the leaders of the G20. The FSB has also pleaded for more legal mechanisms that allow for closer ... (read more)