Regulatory coherence: JFMC joins the industry response welcoming the Financial Stability Board’s evaluation plans

The JFMC has together with the Global Financial Markets Association (GFMA) and the International Swaps and Derivatives Association (ISDA) responded to a Financial Stability Board (FSB) consultation on the Proposed Framework for Post-Implementation Evaluation of the Effects of the G20 Financial Regulatory Reforms.

We welcome the FSB’s review and their commitment to engage with industry stakeholders to look at the coherence of the regulatory framework. We support the objectives of the G20 in putting in place a regulatory environment that provides financial stability but also one that is supportive of growth. This review we hope will provide an opportunity to look at the efficiency of the overall framework and remove unnecessary duplication of rules or conflicts between specific regulatory requirements and broader policy goals. It will also give an opportunity to examine and rectify any unintended consequences that the regulations are having on the overall financial system. Well-coordinated financial regulation should help to create a fair and resilient financial system, and allow for an environment that will encourage  sustainable economic growth and we are supportive of these goals.

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