G-7 can't reach accord on financial regulation

Leaders at a Group of Seven meeting failed to reach an accord on financial regulation, French Finance Minister Christine Lagarde said. There was no agreement on a U.S. proposal to limit proprietary trading at commercial banks. "It could be quite difficult to define actually what is proprietary trading as opposed to operating in the best interest of banks' clients, in relation to hedging, for example," Lagarde said.

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