Regular readers of this blog must have noticed that we have up to now desisted from commenting on one of the major industries constantly under scrutiny and proposed for regulatory reform: the financial sector. This is a deliberate omission. Regulatory Reform as tackled in this blog is a horizontal set of institutions, policies and tools that can be applied in most sectors of the economy. It is up to regulators in each sector to make the best use of the principles. But to avoid leaving such a major gap in our coverage, we will henceforth report the most stimulating news in regulatory reform of the financial markets, starting with Monday's declarations by Christine Lagarde, the managing director of the IMF. "Better regulation of the financial sector remains critically important in the years ahead to make the financial sector safer and more stable, and to put the industry back in the service of the real economy," she said . Ms Lagarde cautioned against the inconsistency of implementation.
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