Asia capital markets forum: Goldman Asia counsel calls for lobbying on open markets

Author: | Published: 1 Dec 2005
Ken Willman, Goldman Sachs

Kenneth Willman, general counsel of Goldman Sachs (Asia), used the opening address at IFLR's Asia Capital Markets Forum last month to call for greater liberalization of the region's securities markets.

Speaking at the two-day event in Hong Kong, Willman said: "The importance of open markets access cannot be overemphasized," citing a World Bank report that says countries with fully open financial services industries grow on average one percent faster a year.

"The imperative for open market access is justified by more than just trying to improve the competitive landscape for international securities firms," he said.

Willman went on to detail the work of several groups headed by the Securities Industry Association (SIA) and the International Capital Market Association (ICMA) to push for more open markets.

In connection with the Doha Round of World Trade Organization trade negotiations, these groups have developed a set of market...