Regulation is in the forefront of financiers' minds more than ever before. Strict new rules on everything from bonuses to hedge fund marketing have made Europe's regulators more powerful than ever. Here is our pick of the 10 most important.
- Mario Draghi Governor of the Bank of Italy, chairman of the Financial Stability Board
Former Goldman Sachs managing director Draghi identified 2010 as a critical year for the FSB, which was forged last year to replace the Financial Stability Forum. It is pressing ahead with ambitious regulatory reforms to bolster bank capital and liquidity standards, improve incentive structures and transparency, improve the derivatives markets and cut the risk of moral hazard in systemically important financial firms as part of its broader mandate to promote financial stability. Last month, the FSB published its interim report on policy to address moral hazard, as it had pledged it would to leaders of the G20, and now Draghi will begin the task of concrete policy recommendations.