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Derivatives traders’ ID-tags task given to Deaton's regulatory oversight committee

( October 9, 2019, 09:40 GMT | Official Statement) -- MLex Summary: Producing identity tags for derivatives traders is best done by the Legal Entity Identifier Regulatory Oversight Committee, a global alliance of 70 public authorities chaired by Alan Deaton of the US Federal Deposit Insurance Corporation, the Financial Stability Board said today. An FSB working group will undertake the task until the LEI ROC is ready with adjustments expected by mid-2020, the report added. Separately, global financial-market standard-setters published nine criteria for maintaining, implementing and overseeing critical data other than identifiers for transactions or products. Global jurisdictions were also given three years to implement 2017 technical guidelines as part of an attempt to avoid a repeat of the aftermath of Lehman Brothers' 2008 collapse, when it took months to identify the firm's counterparties.FSB statement follows. Documents attached....

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