Just Tuesday I was complaining about a few of the confusing acronyms that the summer's Dodd-Frank financial regulation bill created. Jean Eaglesham at the Wall Street Journal agrees, and wrote a fun article today going through some of regulators' latest serving of "alphabet soup." If you don't speak financial regulator, then you can be left out of the loop. Eaglesham provides an example:
Randy Snook, executive vice president at the Securities Industry and Financial Markets Association--or Sifma--earlier this year urged regulators to ensure a rule on a new legal identification system for financial firms is applied consistently.
But he didn't phrase it quite like that. Instead, Mr. Snook said: "It is critically important that the FSOC coordinate disparate LEI efforts taking place across regulatory agencies."