FSB chief advocates pushing ahead with regulatory revamp

06/29/2009 | Forbes

Mario Draghi, chairman of the Financial Stability Board, said this is not the time to pause and policymakers should instead push forward with efforts to make markets more resilient. SIFMA and several other associations told the FSB that poor coordination among governments could hinder capital flows and might lead to "regulatory arbitrage". "Where the FSB identifies practices that do not enhance sound regulation, promote integrity in financial markets or reinforce international cooperation, the FSB should encourage corrective action in line with the [Group of 20] mandate," the associations said. Read SIFMA's news release.

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