LOS ANGELES - AMERICAN actor Michael Douglas and director Oliver Stone will work together again on a sequel to the 1987 hit film, Wall Street, said reports on Wednesday.

The iconic role of Gordon Gekko, best-known for the catchcry 'greed is good', will be reprised by Mr Douglas said 20th Century Fox spokesman Gregg Brilliant.

With the working title of Wall Street 2, Mr Brilliant said the project was 'timely and relevant given the state of the world' reported website ninemsn.com.au.

"We need to keep the storyline under wraps, but it's literally ripped from today's headlines," Brilliant said.

"It's going to be very big and very cool."

Wall Street protrayed corporate raider Gordon Gekko as a symbol of greed and corruption during the 1980s.

The new film, however, will be more closely linked to the current economic and financial crisis said Mr Brilliant.

Gekko has endured because audiences give him the "same kind of respect we've got for the great white shark," Douglas said in an interview with Associated Press Television News for his upcoming life-achievement award from the American Film Institute.

"He's a villain. Gordon Gekko is a great, old-fashioned villain," Douglas said.

"And, interestingly enough, if you look at most actors' careers, their biggest achievement, not necessarily success, but (achievement), is playing a bad guy."

Academy Awards voters agreed. Douglas earned the best actor Oscar for Gekko.

The sequel is scheduled to start shooting this year. Edward Pressman, who produced Wall Street, also is back for the sequel, while Allan Loeb wrote the screenplay.