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We are seeing significant regulatory changes in Singapore and a new three- tier regulatory framework is expected to go live in the coming year
Aradhna Dayal |
Aradhna Dayal: We are seeing significant regulatory changes in Singapore and a new three-tier regulatory framework is expected to go live in the coming year. What will be its major ramifications and how are you adapting to the same?
David Walter: I would like to make a couple of points here. The length of time the new regulatory framework has taken to be put in place has possibly hurt the Singapore hedge fund industry, because a lot of people have decided to set up in Hong Kong rather than in Singapore because of the uncertainty.
Mike [Coleman] and I have been doing a lot of consultation and the MAS [Monetary Authority of Singapore] has been very open to the suggestions, but it has just taken a...