|The most prestigious recognition programme for Regulation & Supervision in the Financial Services Industry
The Asian Banker Regulation & Supervision Awards is a programme designed to determine and award the best practices and outstanding achievements of the topmost regulators in the Asia Pacific region.
The winners are honoured during the yearly Asian Banker Summit, the most authoritative gathering of senior bankers in the region, featuring the risk and regulation conference which is a unique annual forum for risk managers and regulators to share benchmarks and set the agenda for items relating to the most important issues of the day in financial services regulation and risk management.
The Asian Banker evaluates regulators according to three basic functions of regulatory oversight that they may perform - macroeconomic regulation, systemic and prudential regulation and conduct of business oversight and their effectiveness in fulfilling these roles. We do this using three scorecards that we have developed in which we have tried to capture the essence of the role of regulators, their effectiveness and the benchmarks they need to adhere to. The evaluation process is rigorous and transparent, and constantly improved to incorporate the latest challenges and industry changes.
The scorecards deal with the functional areas of macroeconomic regulation, systemic and prudential regulation and conduct of business regulation. The indicators used to evaluate the dimensions listed in each of these scorecards, tend to be more qualitative rather than quantitative. This is because an assessment of this kind needs to take into account the various shades of grey that exist around how regulators go about performing their duties. We believe a binary scoring model would not be able to capture the true essence of regulation, given its peculiar challenges and constraints.