Asia needs Glass-Steagall Act

Author: | Published: 1 Mar 2009
Singapore’s Trade and Industry Minister, Lim Hng Kiang

Regulators want a clearer line between banks that distribute products and banks that take deposits. Some are calling for an Asian Glass-Steagall Act; banks won't have to stop either business, but they could be forced to ring fence their operations.

"We are likely to see regulation of the segregation between banking and securities businesses," says James Wadham of Clifford Chance....