The new topics play to the coordinating and gap-filling strengths of the FSB, which includes both regulators and finance ministry representatives, and which can parcel out appropriate components of larger projects to standard-setting committees.
Work in established regulatory areas obviously falls more appropriately within the province of the Basel Committee (or with respect to some securities regulatory issues, IOSCO), which consists of the regulators with responsibility for administering these standards domestically. In this regard, it is important that the independence of regulators established domestically also be respected internationally.