The International Monetary Fund (IMF) has announced plans for a May 16-18 high level conference on law and financial stability. The event will examine the role that the law plays in contributing to financial stability, and the need to empower regulators and enhance transparency and accountability in the financial sector. Taking place at IMF Headquarters in Washington, D.C. the conference is expected to draw high-level legal experts and policymakers from over 80 member countries to discuss the progress made in strengthening financial regulatory systems since the global financial crisis.

Sean Hagan, IMF General Counsel and Director of the Legal Department, notes that the purpose of the seminar is to illustrate the important role that the law plays in contributing to financial stability, at the international, regional, and national levels. *”Strengthening financial sector legal frameworks is an issue of critical importance for the Fund and its members. The Legal Department is actively involved in this work, and we therefore think it is appropriate to review the progress made since the global financial crisis. The seminar will also provide a timely opportunity to critically examine what remains to be done, as well as identify emerging legal issues.”*

Director Hagan also acknowledged that while the Panama Papers will not be discussed, they do highlight the importance of international initiatives to increase transparency and introduce measures to prevent the misuse of legal entities and arrangements for illicit purposes. *”This is one of the constant themes of the Legal Department’s work on anti-money laundering and counter-terrorism financing (AML/CFT),”* he said, *”as well as on our promotion of sound governance for financial institutions and central banks.”*

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