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The Group of Thirty periodically establishes study groups to analyze issues of particular or systemic importance to the global financial markets.  The membership of a study group is typically broader than that of the Group of Thirty, comprising of experts in the specific field from the regulatory, financial and academic communities, and chaired by a leading figure. 

Study participants fashion their analysis and a report on a consensus basis that often contains recommendations for best practices going forward. 

There are numerous examples of previous study groups on accounting standards, on clearing and settlement, on reinsurance, on derivatives, and on trade.

Currently the Group of Thirty’s Work Program is focused on financial regulatory systems.

Financial Regulatory Systems

The G30 has established a Financial Regulatory Systems Working Group to address the large changes in the world of financial reviews, including institutional reorganization, in light of the rapid evolution of international financial markets, which raises questions about the organization of supervision and regulation.  Regulators are seeking optimal organization of supervisory tasks as the markets change in their nature and complexity.  The working group seeks to shed light on the strengths and weaknesses of different types of regulatory systems in place in major markets. The project looks at the three main regulatory structures adopted: integrated single financial regulator, the functional approach, and the institutional or sector-by-sector approach. 

The Working Group is reviewing the national regulatory systems used in eighteen key markets, which have been selected according to their size and importance to the global financial system.  The markets included are: Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Italy, Japan, Mexico, the Netherlands, Singapore, Spain, South Africa, Switzerland, the United Kingdom, and the United States. The Working Group is drawing upon factual research material on each country’s supervisory structure and the role of each national financial agency to demonstrate trends, issues and developments in financial regulatory systems. 

Financial regulatory systems are fashioned through a process that includes a myriad of political, cultural, economic and financial influences.  Analyzing and comparing aspects of these different systems, therefore, raises complex questions and the answers are far from being clear-cut. Where possible, the project seeks to identify strengths and weaknesses of particular approaches. Finally, we may seek to provide some indication of what factors regulators could consider when contemplating reform of or major changes in their financial regulatory systems.

Working Group Membership

Chairman, Paul A. Volcker
Vice Chairman, Roger W. Ferguson
Geoffrey Bell
E. Gerald Corrigan
Andrew Crockett
Jacques de Larosiere
Richard Debs
Arminio Fraga Neto
Jacob A. Frenkel
Gerd Häusler
John Heimann
Stuart P.M. Mackintosh
Jaime Caruana (Observer)
Terrence Checki (Observer)
Daniel Hofmann (Observer)
Don Ogilvie (Observer)
Richard Spillenkothen (Observer)
Annette Nazareth, Rapporteur

If you would like more information, please contact us at info@group30.org.

The final report of the Working Group will be published in 2008.