On 11 April 2017, the Financial Stability Board (“FSB”) published a consultation paper outlining a proposed framework for post-implementation evaluation of the effects of the G20 financial regulatory reforms.
The FSB underlines the importance of assessing the efficiency of the comprehensive post-crisis program which was launched by the G20 in 2009 to increase the resilience of the global financial system. Importantly, the FSB also aims at identifying potential unintended consequences of post-crisis reforms.
The proposed framework suggests that the evaluation process should facilitate appropriate consultation and collaboration between all bodies involved, including public consultations on evaluations prior to their final publication. The objective is to offer all stakeholders the opportunity to comment on each evaluation. The FSB also emphasizes that the exercise should be data-driven and include an assessment of social costs and benefits.
Comments can be submitted until 11 May 2017. The FSB is due to publish its final report ahead of the G20 Leaders’ Summit in July 2017.