6  BIS Review 2/2010  The third challenge is to actively participate in the creation of global rules. Currently, various moves are taking place to establish new international rules to address global environmental issues and others. Moreover, there are active developments to take the initiative in rulesetting at the corporate level.
To reap the fruits of global economic growth, it is essential for public authorities and private firms to strive to actively participate and take the initiative in such moves. In the financial field also, discussions are underway toward revising global financial regulations to reflect the lessons learned from the recent crisis.