I like the legal actions taken by US regulators against businesses that allegedly break the law. It is important for the regulator to look after the interest of the public. I wish that our regulators in Singapore will follow this good example:
http://money.cnn.com/2012/04/02/markets/royal-bank-canada-sued/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
http://money.cnn.com/2012/04/02/markets/royal-bank-canada-sued/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29
This will come about when the PAP government is ready to take good steps to cut business/commercial links with GLCs. The conflict of interest must end in order to have an improved 'TRANSPARENCY and ACCOUNTABILITY'.
ReplyDeleteThe role of the government is to govern fairly and firmly. The links should be limited to 'Defence and Education' industries only. Thus, the elected government must observe and comply with the rule of 'level of playing field' very strictly. The level of trust and confidence on the government will naturally increase in due course, and this is the topic that the people have been talking about and complaining over the past decades.