This group represents industrial and emerging economies, standard setting bodies and international financial institutions.
In September 2001, it reported on progress made towards increasing market and official incentives for countries to implement international standards for their financial systems.
The final report is satisfied with progress, but calls for increased efforts at:
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increasing the effectiveness of Reports on the Observation of Standards and Codes (ROSCs);
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enlisting the active support of the business sector in each country; and
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a more strategic approach to mounting demands for training assistance.
In September 2001, the FSF noted progress and encouraged market practitioners to take further account, when making lending and investment decisions, of jurisdictions’ observance of standards. The FSF also stressed the importance of technical assistance to support the implementation of standards.