SINGAPORE: Evaluating regulatory reforms and enhancing supervision, while managing the risks from financial technology (FinTech) and cyber risk could be on the agenda for financial regulators over the next decade, said Monetary Authority of Singapore’s (MAS) managing director Ravi Menon.
Mr Menon was delivering a keynote address at the Symposium on Asian Banking and Finance held in San Francisco on Monday (Jun 25) morning.
Speaking at the Federal Reserve Bank of San Francisco, he framed his speech as an imaginary one delivered in 2028. In it, he laid out plausible scenarios for the future of financial regulation.
EVALUATION AND ENHANCING SUPERVISION OF REFORMS
One of which involves the regulatory and supervisory responses to the 2008 global financial crisis. After spending eight years fixing the fault lines with the “most wide-ranging set of reforms ever in the history of financial regulation”, the next phase from 2017 to 2020 would see regulators evaluating the effects of these reforms.
During which, the reviews would largely affirm that the benefits, in terms of reducing the risk of financial crisis and its consequent economic…
