Every modern day reg/rec I have seen to date has a positive and negative cable, and doesn’t rely on earthing through it’s casing at all.
That makes it suitable for positive earth (Norton Commando standard) or negative earth as per modern vehicles.
I recommend that you think very carefully before you convert your bike to negative earth.
Doing so means:
1) every red cable on the bike becomes a negative wire
2) every manual and diagram out there no longer matches your bike
3) anyone that tries to help you by the roadside can no longer assist as easily, as everything is different to standard.
If the sole reason for converting is for LEDs, then considering looking at a specialist supplier like Paul Goff
http://www.norbsa02.freeuk.com/ who specialises in lighting for older vehicles.
This means you can keep everything else as per the standard workshop manual.
If you are concerned about other electrical items like electronic ignitions, usb accessories etc, then fear not - just like the reg/rec units, most of these do not need to be grounded through their casings.