Best World

[specuvestor]

Actually I think in the real world it's not so straight forward. Regulatory risk is just one of the business risk that a firm takes. Note I'm saying from a very capitalistic point of view.

Does the management knows what it is doing? Will this risk shut down the whole operation or business? Does the shareholders trust the mgt?

That's why mgt quality and track record is so important. It is good to have clarity from IR or from mgt roadshow / AGM

Falcon Pte bank was shut down in Singapore due to IMDB but how much had it made? How much impact from banks that laundered Russian money? What is the value of reputation and maybe notoriety ie can make things happen regardless?

That's why MAS recently said it s not effective to just fine the banks but decision makers should be liable. I think that's on the right track. We have to see the incentive / disincentive for policy making and not just be too academic about it