This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

G8 agree on a set of financial regulatory principles

  • G8 (lt green) Image

14 Jun 2009

Meeting in Lecce, Italy on 12-13 June 2009, the Group of Eight (G8) finance ministers agreed on a set of common principles and standards for propriety, integrity and transparency aimed at stabilising the world's financial markets.

The principles are referred to as the Lecce Framework. The Framework provides a direction to build on existing initiatives, to identify and fill regulatory gaps and to foster the broad international consensus needed for rapid implementation. Specific issues covered by the framework include executive compensation, regulation of systemically important institutions, credit rating agencies, accounting standards, the cross-border exchange of information, bribery, tax havens, non-cooperative jurisdictions, money laundering and the financing of terrorism, and the quality and dissemination of economic and financial data. The G8 countries are Canada, France, Germany, Italy, Japan, United Kingdom, United States, and Russia. Click for G8 Finance Ministers' Statement (PDF 33k).


Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.