The chairman of the UK’s Financial Services Authority, Adair Turner, has been appointed chairman of the new Financial Stability Board’s standing committee for supervisory and regulatory co-operation.

The Financial Stability Board was founded in April as the successor to the Financial Stability Forum. Its’ committee on regulatory co-operation will address coordination issues that arise among supervisors and regulators. It will also help with contingency planning for cross-border crisis management at major financial institutions and advise on crisis management issues more broadly.

“The global nature of the financial crisis and the fact that so many banking groups operate across national borders make international co-operation a vital part of reforming regulation. We will work hard on this committee to define the regulations and supervisory approaches needed to address these global risks and identify priorities for regulatory policy needed to tackle them,” said Turner.

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