Mazars contributes to the B20’s recommendations

It is meant to express common views from the international business community. Gathering business associations, CEO and Senior Executives from major companies active in all G20 countries, the main mission of the B20 is to contribute to the development of a stable, sustainable and equitable world economic growth stimulating creation of jobs, to represent the interests of the national business communities in the dialogue with G20, and to ensure that the recommendations of the business community are reflected in the decisions of the G20 leaders and their subsequent implementation.

Helping G20 reform the Financial System

The Russian Presidency has chosen the issue of fostering economic growth and job creation as a primary focus of its Presidency, and has structured the whole work around this principle and the three priorities: growth through quality jobs and investment, growth through trust and transparency, growth through effective regulation.

Patrick de Cambourg, Chairman of the Group Mazars and Fabrice Demarigny, Global Head of Financial Advisory Services, have participated in the on-going discussion all year long, effectively contributing to the B20 recommendations about the reform of the Financial System. The final report was submitted to the G20 sherpas on 16^th July, prior the meeting of the G20 Finance and Labour Ministers about unemployment and investment on 19^th July.

One of the key focuses of the report is the necessity to improve Financial Regulation and reinforce the level of trust in the financial and banking system… a challenge that has been extensively analysed by Mazars, through many initiatives such as:

• The Good Bank, a global conversation devised by The Economist Group aiming to develop a model for a trustworthy, innovative and effective bank

"It is part of Mazars' responsibilities to independently advocate an operational model that will increase quality, transparency and confidence in the banking industry and, in this way, promote financial stability and the return of sustainable growth." Fabrice Demarigny, about the Good Bank initiative.

• As well a key recommendation on facilitating access of smaller companies to financing and public markets

"The Strategic Planning Committee for SMEs today presented its final report to NYSE Euronext and the national and regional markets where NYSE Euronext is market operator. The Committee thanked the approximately 200 representatives of professional associations who took part in the public consultation." Fabrice Demarigny, about the Entrepreneurs’ stock exchange initiative.

Links:

-     To the report : www.b20russia.com/B20_WhiteBook_web.pdf

-     To the announcement : www.G20.org