Regulators have largely agreed on the main elements of a strengthened and internationally harmonized financial regulatory regime, endorsed at the 2014 Brisbane G20 Leaders Summit. The new regime is a major step towards achieving a robust and less crisis-prone global financial system. Nevertheless, a number of specific measures need to receive closer attention in order for Group of Twenty (G20) leaders to declare their reform program a success. Dr. Knight will discuss the additional work that policy makers and regulators should focus on in 2015, and outline why closer international cooperation in implementing the regulatory reforms will be essential to success. He will also address the issue of whether the overall design of the reform package has the right balance between micro- and macro-prudential regulation to strengthen financial stability as much as its architects expect. More work needs to be done by policy makers and regulators in several key areas in the run-up to the 2015 G20 Leaders Summit if a more robust regulatory regime that can markedly enhance global financial stability is to be in place by the end of this decade.