A bullish time ahead for Asia
Asia’s rapid growth and buoyant consumer confidence continue, and the region is emerging from the financial crisis as an economic powerhouse. Operational risk managers and regulators alike must keep pace with this bullish market if they want to avoid repeating some of the mistakes of the past two years
In July 2009, the Monetary Authority of Singapore (MAS) banned 10 financial institutions from selling structured notes, after an investigation into the sale and marketing of notes arranged by Lehman Brothers revealed shortfalls in the banks’ product approval, sales and marketing processes. Since then, three of the accused banks – DBS bank, Malayan Banking Berhad (Singapore branch) and Royal Bank
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