About Global Regulatory Reform
AFME's work on Global Regulatory Reform focuses on current EU, global, and certain national proposals for revising the existing regulatory and supervisory framework. On an EU level, AFME is responding to Commission proposals for a new European Systemic Risk Board and European Supervisory Authorities. On a global level, AFME monitors G20 summits and finance ministers' meetings, as well as the Financial Stability Board's work in carrying forward G20 conclusions. AFME also coordinates and monitors developments at international bodies such as the Basel Committee, IOSCO, and the IASB. On a national level, AFME responds to certain major member states' proposals for revisions to their national regulatory and supervisory architecture.
Key Issues and Initiatives
- Promoting consistency of global policy on financial regulation and infrastructure;
- Ensuring that global policy, along with its implementation at regional and national levels, is informed by an agreed vision of the right balance between regulation and encouragement of economic growth;
- Ensuring that the aggregate impact of new rules is assessed, and is consistent with agreed overall policy priorities;
- Encouraging full EU involvement in global policy development, and EU and national rules that are consistent with global consensus; and
- Ensuring that the organisation, functions, powers, and staffing of new or revamped global, EU, and national bodies improve financial stability management, rule-making, and supervisory cooperation, and promote effective cooperation, coordination, and communication where they are needed, without unintended consequences.
Organisation
AFME's work on Global Regulatory Initiatives is overseen by the relevant boards and committees of various AFME divisions, with advice and support from the EU Public Policy Committee.
Contact
Mark Hart, Managing Director
mark.hart@afme.eu
+44 (0)20 7743 9307