Bloomberg News

China, Russia, Turkey Yet to Meet Data-Exchange Rules, FSB Says

November 02, 2011

Nov. 2 (Bloomberg) -- China, Russia and Turkey are among nations yet to prove they fully comply with international standards on financial regulators cooperating and sharing information, the Financial Stability Board said.

The board made the finding during an evaluation of how well 61 different countries, including all FSB member countries, were complying with the rules, the group said in a statement on its website.

“Forty-one of the jurisdictions evaluated by the FSB already demonstrate sufficiently strong adherence to the relevant standards,” the group said. “Eighteen others are implementing reforms to strengthen their adherence” or have requested new assessments from the International Monetary Fund and World Bank on whether they comply with the rules.

The FSB brings together regulators and finance ministries from the Group of 20 nations.

--Editors: Christopher Scinta, Anthony Aarons

To contact the reporters on this story: Jim Brunsden in Brussels at jbrunsden@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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