However, as the decisions to be taken will shape the financial system for years to come, accuracy is more important than speed. We have to be careful not to implement oversimplistic solutions. Regarding the required complexity of regulatory measures, potential interactions have to be taken into account as, otherwise, the danger of unintended consequences grows.
At the same time, the cumulative effect of new measures has to be considered, which makes thorough impact assessments necessary. Also, actions have to be sufficiently coordinated on the global level in order to maintain a level playing field and to reduce the risks stemming from a fragmented and piecemeal regulatory response.