Australia’s Stevens warns on dangers of over-regulation
Redesign of regulatory systems should not entail suppression of the financial sector, Glenn Stevens, the governor of the Reserve Bank of Australia, said on Tuesday.
Commenting on the three decades of financial liberalisation which preceded the 2007 financial crisis, Stevens said: "The regulatory cycle has come fully around."
Future regulation should be better funded, politically independent and active during boom times, he said. However, he urged regulators not to return to the "intrusive"
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