Financial reform should ensure the consistency of all countries regulation measures

Will Bank Chairman Joseph. Ackermann said on November 2, G20 summit will discuss issues of financial reform, the most important measures is to ensure consistency of national regulators to ensure fair international financial environment.
He said in Beijing that the Group of 20 and international regulatory authorities need to establish consistency of the international financial architecture and to take action. To solve big to fail, we need a long cross-border supervision and supervisory arbitrage, regulators also need effective multilateral cooperation.
He pointed out that, G20 summit to make the summit leaders understand that the cumulative economic costs of regulatory reform, and thus avoid a further increase in September reached by the Basel II capital requirements. Otherwise it will jeopardize the recovery of mature economies and create employment, it will jeopardize the development prospects of emerging economies.G20 summit will be held November 11-12 in Seoul, Korea.