Banking and financial regulation
In a region still implementing fiscal reform following the global financial crisis, GC talks to leading general counsel across Asia for an insight into the regulatory challenges.
When the global financial crisis struck in 2008, the impact reverberated far beyond the traditional financial centres of the west. Initial speculation was that Asia would be relatively well insulated from the crisis due to the growing financial independence of the region. But instead, the effects hit at a speed and depth that surpassed all expectations. Under fire, financial institutions sought to reduce their exposure to the region, resulting in a steep decline in the value of currency and equity markets, at a time when the price and volume of exports was plummeting.
