Regulators in Asia are moving ahead independently of one another on reform of a variety of financial markets practices, without waiting for the results of parallel discussions in the west, according to sources investigating the trend. Although in the past Asian regulatory regimes have often taken guidance from the west, the retooling of those Asian systems that took place after the Asian crisis, Asia’s subsequent performance in the latest global crisis and a growing sense of regional competition have all contributed to the present trend.
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“Asia’s regulators are moving pre-emptively on a range of reforms” James Mudie, Billarook |
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“We are seeing how Asian regulators are no longer effectively price takers from a global perspective,” says James Mudie, managing director at Billarook, a firm engaged with senior executives at financial institutions in Asia on asset-related and regulatory issues.
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