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Goldman Sachs, HSBC, Barclays, BNP Paribas, and other banks are developing a tool to disclose clients' stock positions, aiming to minimise under-reporting risks. The initiative, called Endoxa, is the first bank-led consortium to tackle global rules on disclosure reporting. b
Major global banks, including Goldman Sachs Group, Inc. (NYSE: GS) and HSBC Holdings, Plc (NYSE: HSBC), are joining hands to usher in a unified method of revealing clients' stock positions.
Goldman Sachs and HSBC are among a group of five banks adopting a common global approach to disclosing clients' stock positions, a move which participants say could help cut costs and...