The G20 Finance Ministers met before the London Summit. The communiqué that followed their meeting dealt with several regulatory recommendations:
- appropriate regulation for all systemically important financial institutions, markets and instruments and registration and disclosure requirements for hedge funds or their managers;
- stronger regulation reinforced by strengthened macro-prudential oversight to prevent the build-up of systemic risk;
- not changing capital requirements now, but making necessary changes once recovery is on the way; and
- strengthened international cooperation to prevent and resolve crises, including launching an IMF/FSF Early Warning Exercise.