While European leaders have been meeting in Brussels to address the crisis in the eurozone, our six Shadow Financial Regulatory Committees have been meeting in Washington to consider lessons from the recent global financial crisis. We believe that there are important lessons from that crisis for providing a framework for assessing the plans for resolving the current European crisis.
The ANZSFRC meets approximately twice every year in one of the major cities in Australia and New Zealand. The ‘shadow’ function of the Committee is related to its purpose of following and analysing critically the existing and evolving regulatory framework for financial institutions and markets. The Committee is fully independent of the providers, regulators and supervisors of financial services whose behaviour it aims to evaluate.
This Statement was produced jointly with the Shadow Financial Regulatory Committees of Asia, Europe, Japan, Latin America and the United States
For more information on the ANZSFRC click here