Lagarde: Further reforms needed

IMF managing director Christine Lagarde still has concerns five years into the financial crisis that many financial systems “remain vulnerable, too complex and overly reliant on a small number of large — and growing — institutions,” she told the its annual conference in Tokyo yesterday.

“There has been significant progress on regulatory reforms aimed at making markets and institutions more transparent, less complex, and less leveraged. But the job is not done yet.

“Further effort is needed to implement reforms. Worryingly the collective energy to do just that is fading.”