27 September 2012 6:55am

Years of regulatory reform in the wake of the financial crisis have yet to deliver a safer global financial structure, according to the International Monetary Fund.

The IMF issued an assessment of financial system reform this week, concluding that the reforms are aimed in the right direction but "financial systems remain vulnerable".

The reforms have been designed to make markets and institutions more transparent and less complex and less leveraged.

However, the IMF's view is that: "The reforms have yet to effect a safer set of financial structures because, in part, in...