FSB Adopts Recommendations to Improve Efficiency and Transparency

The Financial Stability Board ("FSB") agreed to several recommendations from a Plenary working group ("working group") to improve the transparency of internal processes and communications with external stakeholders.

The working group was created in January 2018 to review the FSB's procedures in order to (i) better align policy work and processes with the FSB's financial stability mandate, (ii) enhance the effectiveness of senior-level meetings and working groups and (iii) improve communication and engagement with external stakeholders.

Among other recommendations, the FSB agreed to:

• make more frequent use of stakeholder workshops to improve outreach;
• improve the accessibility to the general public of information by making more of it available on the website; and
• provide more information about the FSB's work in language that can be understood by laypersons.

The FSB also agreed to standardize its public consultation process.