Event
Description
The heated debate regarding effective financial regulation by central governments is still continuing in the midst of global economic turmoil. The central challenge for government regulators is how to sustain the optimal allocation of capital without allowing excessive risk taking behavior by financial institutions, at the same time encouraging innovation in the monitoring of financial markets. Four panelists from China, Japan, Korea and India having extensive experiences with financial regulation will focus on the current governmental approach towards financial regulation, and discuss the appropriate role of the government for preventing any subsequent financial crises.
Speakers
Sung Hoon ParkDirector, Korean Ministry of Strategy and FinanceSung Hoon Park is a Director at the Ministry of Strategy and Finance of the Republic of Korea, focusing on fiscal policy. He also held posts within the South Korean Government at the Ministry of Planning and Budget and at the Office of the President. Most recently, Sung Hoon has worked at the World Bank in Washington, DC as a Senior Specialist for Financial and Private Sector Development. He is a member of the Korean Bar Association and received his bachelor’s degree in politics from Seoul National University. He is currently a Mason Fellow and mid-career MPA candidate at the Harvard Kennedy School.
Toshitake InoueAdvisor, Monetary and Capital Markets Department, International Monetary FundMr. Toshitake Inoue is an Advisor in the Monetary and Capital Markets Department of the IMF where he works on financial regulations on capital markets. Immediately before joining the Fund in July 2009, he was Director for International Financial Markets and for International Accounting at the Financial Services Agency (JFSA) in Tokyo, where he was involved in international standard settings on securities regulations, accounting and auditing, and represented the JFSA in international meetings, including the International Organization of Securities Commission (IOSCO) and International Accounting Standards Board (IASB). Before that, he served in various posts in the Government of Japan, including the Ministry of Finance, National Tax Agency and Ministry of Foreign Affairs. He majored in law at the University of Tokyo and studied business administration at the University of Texas at Austin.
Ravinder SaroopDirector, Indian Ministry of FinanceRavinder Saroop is Director, Ministry of Finance, Government of India, and at present an Edward Mason Fellow at the Harvard Kennedy School. He has been associated with various policy measures of Government of India in recent years, in particular, in the areas of infrastructure, information technology and the automobile sector, and provided key inputs for important policy decisions. During 2005-2009, he was a key member of the Indian Finance Minister’s team which prepares the annual budget of Government of India, which is a statement of important policy announcements and future direction of economic growth. In particular, he played an important role in policy changes implemented by India in 2008, when in the early part of the year the world grappled with inflationary trends, and in the later part of the year, with recession brought on by the financial crisis. He has also been a member of Government of India’s negotiating teams in bilateral and multilateral trade agreements, and market access negotiations in WTO. In 2009, Government of India conferred on him the Presidential award. His undergraduate degree is in mechanical engineering.
Tao Zhang (Moderator)Managing Director, ACBridge Capital AdvisorsTao is Founding Managing Director of ACBridge Capital Advisors, a China-focused government and investment consultancy firm. He also sits on the boards of several China and US-based organizations in both the private sector and NGO arena. His companies and team of consultants have served a variety of Chinese state-owned corporations and Western multinational companies in the areas of overseas investments, anti-monopoly (China) legal services, government relations, and mergers and acquisitions. Prior to founding ACBridge Capital Advisors, Tao served numerous Global Fortune 500 and S&P telecom/ technology companies in the capacities of Greater China General Manager, Assistant Asia-Pacific President and Global Strategist consecutively in China, Singapore and the US. Before he went into the private sector, Tao represented China's official Xinhua News Agency in Brussels, Belgium to cover the European Union and NATO. Tao received his BA from Beijing Foreign Studies University, an MBA from Wake Forest University on full scholarship, completed an executive education at the Harvard Business School and is currently a Mason Fellow, Mid-Career MPA candidate at the Harvard Kennedy School.
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