To all executives that are present here, I would say: you have a responsibility of your own as well. Second, risk shifting and financial innovation imply that the regulatory framework will continue to evolve and will never be completed. Therefore your business models should be sufficiently flexible and not fine-tuned to a current set of regulations.
You have seen that most of today’s regulators are quick and determined to pass the necessary reforms. I am confident that this will also apply to tomorrow’s regulators, who will continue to make changes and additions to the future global financial architecture. BIS central bankers’ speeches  5