In July 2007, the Group of Thirty decided to launch a review of various national supervisory
and regulatory approaches and place them within the context of the changing global
financial system.
The study set out to look at the changes evident in the financial markets and the evolution of the national supervisory architecture at a time when central banks and supervisory agencies have been seeking to improve their supervisory processes in light of the blurring of lines between different financial sectors and businesses.
The review of 17 major national supervisory systems has confirmed that while dealing with similar problems and challenges, such systems are fashioned through a process that includes a myriad of political, cultural, economic, and financial influences.
Despite the many differences from country to country and market to market, the central bankers, supervisors, and government ministries are charged with overseeing financial institutions and dealing with threats to the stability of the financial system.
The Group of Thirty that assessed the strengths and weaknesses of a number of international regulatory systems. The conclusions of the study can serve as a framework for the coming debate over how best to reform our regulatory framework to mitigate and withstand future shocks.
As the discussion over financial services regulatory reform deepens, financial industry experts need to stay informed about the direction and future shape of their industry’s changing regulatory structure.
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