It is much more important to set up the single supervisory mechanism and single resolution mechanism and put them on a firm footing. 4. Conclusion  In summarising my thoughts, I would like to stress that, yes, reforming financial market regulation is still a major task, but it is making headway, both in Europe and internationally.
*  *  *  Today’s forum provided us another opportunity to take stock and look ahead. The major difference is of course that the CMDC has invited all stakeholders – and not just the members of the Council – to be here and openly discuss the issues.