Rattled by ‘reg rage’
Financial risk management professionals are bracing themselves for a torrent of new rules and regulations in 2010, now the extreme levels of stress have abated. And the supervisors say they only have themselves to blame. By Asia Risk staff
At the Asia Risk Congress 2009, Karen Kemp, executive director in the banking policy department at the Hong Kong Monetary Authority (HKMA), told delegates: “2010 will be a key year in determining the appropriate balance of regulation, and addressing the weaknesses exposed by the crisis.”
The central question now is where a balance will be struck, Kemp said. On the one hand, conservative governments could indulge in what she called “reg rage” – introducing too-punitive rules in the pursuit of
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