Financial leaders reaffirm global financial regulation consistency

by Vicki Needham - 10/29/10 10:18 PM ET

They reiterated that no financial firm is “too big or too complicated to fail and that taxpayers should not bear the costs of resolutions,” and that those institutions must “improve their capacity to absorb losses and be subject to enhanced supervision and regular stress tests,” the Treasury statement said.

The leaders also discussed policies to ensure that European Union hedge fund rules won’t hurt U.S. funds and “maintaining a global level playing field,” Treasury said.

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