The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry—including banking, insurance and securities—who meet regularly to study and critique regulatory policies affecting this sector of the economy.

During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

The financial crisis of 2007-09 cost taxpayers in the United States and Europe the equivalent of some 25 percent of world GDP in guarantees and subsidies tomaintain financial stability. This has prompted a major rethinking by governments, financial regulators and central banks of how financial institutions and markets should be supervised and regulated.

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy.

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance, and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy.

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance, and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy.

The Shadow Financial Regulatory Committee (SFRC) will discuss the latest Dodd-Frank Act developments, Basel III standards for large institutions, living wills for complex financial institutions, and Securities and Exchange Commission accounting and policy initiatives.

The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance, and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy.