WASHINGTON -- Financial institutions can shave millions of dollars from their compliance costs by working more closely with their supervisory agencies, a prominent international organization of bankers and regulators said Tuesday.

The new report from the Group of 30 provides a broad outline on how to get "better financial reports at lower costs," said former Comptroller of the Currency John G. Heimann. Mr. Heimann chaired the committee that wrote the report.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.