Jane Diplock has spoken to the Centre for European Policy Studies on the need for a global financial architecture to replace the current outdated model. IOSCO welcomes the creation of the FSB. It sees its own role as setting standards for regulators everywhere, and aligning its principles with G20 plans. It wants its multilateral memorandum of understanding implemented by all its 109 members by 2010 as one of a number of methods of bringing global regulation closer.