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A trade group representing the nation's largest financial institutions called on federal regulators to adopt anti-money laundering standards based on principles rather than rules, a move it says will reduce inefficiencies and the regulatory burden on U.S. banks. The Financial Services Roundtable in a study issued today recommended 60 changes to U.S. financial regulations, including 16 new AML standards. The Washington, D.C.-based trade group, which represents the 100 largest financial institutions in the U.S., said the shift from a rules-based regulatory system to one based on principles, or results, as is used in the United Kingdom, would help U.S. financial...