Financial Reform: A Framework For Financial Stability (Group of Thirty) and a new approach to financial regulation (HM Treasury – UK): an analysis

Professor C Chatterjee, LL.M (Cambridge), LL.M, Ph.D (London) Barrister Anna Lefcovitch, LL.M, Solicitor, EC Harris LLP

1. Introduction

In July 2008, the Group of Thirty (G30) developed a project on financial reform under the leadership of a Steering Committee chaired by Mr Paul A Voleker, a former chairman, Board of Governors of the Federal Reserve System. The members of G30 participated in their individual capacity. The G30 report entitled ‘Financial Reform: A Framework for Financial Stability’[1] is a recommendatory expert report. The Group undertook this project as the global financial crisis entered its second year.