81. The only way to manage the risk was through fiscal prudence and a transparent regulatory system, he said. 82. The regulatory system in place until now has left the pension fund market overwhelmingly dominated by Japanese trust banks and life insurance companies. 83. This follows a recent announcement by Bank Negara for the extension ofthe two-tier regulatory system, to improve the efficiency and stability ofthe financial infrastructure. 84. This include legal provisions which are business-friendly, while at the same time instituting a sound and effective regulatory system. 85. This region needs regulatory systems that attract investors. 86. Under the regulatory system in place until now, the pension fund market has been overwhelmingly dominated by Japanese trust banks and life insurance companies. 87. Whitman proposed the new regulatory system to discourage building in ecologically sensitive areas and to blunt sprawl. 88. When the culture ministers discussed the issue last month in Bordeaux, France, an overwhelming majority of ministers rejected French proposals to tighten the regulatory system. 89. US officials have said that barriers including a secretive and confusing regulatory system and exclusive contracts among interconnected firm have kept out non-Japanese firms. 90. It said bank supervisory mechanisms and stock market regulatory systems had been overhauled and safeguards would be introduced to prevent future wrongdoing. |