CNBC.com, 8 Jun 2011Tim Geithner’s warning that the world could face another global financial crisis unless Asia adopts US regulations on derivatives transactions triggered a largely critical response in the region.
The Monetary Authority of Singapore robustly rejected any suggestion that it was weak on regulation, arguing that its banking and derivatives trading rules met or exceeded international norms, and insisting that Singapore had not sought to lure financial business away from other centers through regulatory arbitrage. Full story
