FSB Review of the Structure of its Representation
The FSB’s report on the completed review of the structure of its representation sets out measures that seek in particular to strengthen the voice of emerging market and developing economies (EMDEs) in the FSB while also preserving the effectiveness of its decision-making process. The measures include:
- allocating to the five EMDE jurisdictions that currently have a single seat each in the Plenary – Argentina, Indonesia, Saudi Arabia, South Africa and Turkey – a second Plenary seat each.
- the FSB making greater use of the existing flexibility in its Charter to enable non-member authorities to be involved in the work of the FSB’s Committees and working groups, to strengthen and broaden engagement in the work of the FSB and to widen the pool of expertise available, including that of EMDEs and securities market regulators;
- the FSB extending to the non-FSB member co-chairs of its Regional Consultative Groups a standing invitation to attend Plenary meetings;
the FSB continuing to seek to identify policy and implementation issues of most relevance to EMDEs and ensuring that they are addressed as part of the FSB’s global work.