Achieving Effective Supervision: An Industry Perspective, “prepared by the Effective Supervision Advisory Group under Mrs Kerstin af Jochnick, Managing Director of the Swedish Bankers’ Association – addresses the issue of how to make supervision more effective both nationally and globally in the light of the financial crisis. It argues that such supervision has a central role in reinforcing and sustaining sound industry practices and in buttressing strengthened regulation and resolution arrangements. It makes it clear that the industry would welcome more intensive, challenging and action-focused supervision and that the industry is prepared to meet the costs of this. It also stresses the major responsibility of the industry to support effective supervision and includes twelve core recommendations to firms aimed at improving the level and nature of engagement with supervisors.”