G20 calls for bigger, better FSB to carry reform agenda

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G20 leaders on Friday outlined seven areas in which the Financial Stability Board (FSB) and other multilateral bodies need to do further work, including regulatory reform in the emerging markets and strengthening supervision of the shadow banking sector.

In their Seoul summit communiqué, issued Friday afternoon, G20 leaders welcomed the contributions made by the FSB and other bodies such as the IMF and Basel Committee on Banking Supervision to the international regulatory overhaul to date. Howev