The co-chair of the Goldman Sachs's business standards committee this morning set out four key areas for attention in the drive for financial reform, saying “if we don't get them right, the rest won't matter”.

Speaking at an event hosted by The Economist, Gerald Corrigan, a managing director at Goldman Sachs, said that more progress had been made in regulating the financial system that he had thought likely two years ago. However, the former president of New York Federal Reserve added that there was still a long way to go.