ABSTRACT. Because transnational networks of financial officials are likely to continue to play a central role in overseeing the coordination of financial regulation internationally, it is important to devote more attention to their accountability. We identify three distinct accountability problems associated with these networks: uneven representation of countries; their overly technocratic character; and the risk of capture by the financial industry. In the process of international financial reform that has been underway since the outbreak of the current global financial crisis, the first problem has been partially addressed, although more could be done. The second and third problems have so far been more neglected on the international reform agenda and we advance some recommendations to address them. (pp. 158–173)

JEL: G34, L14, O16

Keywords: transnational, network, financial, regulation, accountability, crisis