Economy shouldn't delay reforms, FSB official says

02/7/2012 | Reuters

Tiff Macklem, chairman of a key Financial Stability Board committee, said the dismal global economy should not prompt regulators to postpone reforms of the financial system. "In a risky world, the need to make the financial system safer and restore confidence is vital," he said. "If there is a reproach to be made, it is that progress has not been faster." Macklem said the FSB plans to propose rules to govern shadow banking by the end of 2012.

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