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At the request of the G20, the FSB has monitored progress in the development and implementation of the G20 recommendations for financial sector policy reforms since the Washington Summit in November 2008. The regular reports to G20 Ministers and Governors and to G20 Leaders have to this point focused primarily on the progress of global policy development in major reform areas.
The FSB has coordinated effectively with the relevant standard-setting bodies (SSBs) on substantial policy development work in a number of key areas critical for strengthening global financial stability. Going forward, the success of the financial regulatory reform efforts in these areas depends on the complete and globally consistent implementation of these policies. This implementation process is increasingly the focus of public and financial industry attention. FSB member jurisdictions have made a commitment to lead by example. It is important to monitor, assess and report on the implementation of agreed reforms to ensure that jurisdictions live up to their commitments.
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