The role and responsibilities of the FSRCC are set out in the new QCB Law and will be further developed as necessary. The FSRCC has been established with representation from the senior executives from each regulatory authority and a Secretariat will be constituted to support its work. The Secretariat will collate all relevant information, manage the agenda and highlight issues for discussion, while maintaining a record of all proceedings. The Secretariat will also communicate any recommendations of the FSRCC to the relevant regulatory authority for action and implementation.