Asia must join the EU and US in their post-crunch regulatory efforts if the region is to avert its own financial crisis, according to the head of Hong Kong’s top market watchdog.
Speaking at the third Pan-Asian Regulatory Summit in Hong Kong last week, Ashley Alder, the chief executive of the Securities and Futures Commission (SFC) and former Herbert Smith Asia head, said regional institutions would be “unbelievably stupid” to ignore the lessons learned by Western economies, and had a “golden opportunity” to ensure Asia did not experience its own financial collapse.
