G20 drivers of financial services regulatory reform |
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Background
On June 18 and 19 the two day G20 Leaders’ Summit for 2012 took place in Los Cabos, Mexico. As with the Cannes Summit in November 2011, the G20 discussions were dominated by the Eurozone debt crisis and concerns regarding global economic growth. However, the G20 reaffirmed its post-crisis commitments regarding financial services regulatory reform and announced significant progress towards the objectives agreed at Cannes. In comparison to previous summits, fewer new initiatives were launched, with the focus now placed on timely implementation of previous commitments.
Key findings
In this briefing note, we take a closer look at the agreements and progress made on financial services regulatory reform with a particular focus on Global Legal Entity Identifiers for Financial Market Infrastructure (LEI) and the International Association for Insurance Supervisors (IAIS) assessment methodology of the identification of Global Systemically Important Insurers (G-SIIs).
