The current financial crisis has revealed a number of deficiencies in the European and international regulatory framework, which need to be addressed in order to place our financial systems and economies on a more solid footing. As a result, a number of initiatives have been undertaken in the relevant European and international fora.
The number and breadth of these initiatives is impressive and very promising. The report from FEF provides a very comprehensive survey of all the current initiatives, identifying the various strands of work and summarising the main implications for the financial sector and markets.