Similar co-ordination for the financial services sector has still to be introduced. Equally important is the need for legislative review of the whole area of corporate governance. Company Law must be reformed to ensure better investor safeguard. Minority shareholders must have greater guarantees not only at special times such as at the IPO's, in the event of mergers, acquisitions and take-over bids etc., but also during the normal course of a company's life. Theoretical and empirical research has demonstrated that a country's economic and financial development is closely linked.
Companies have to compete, grow and innovate.
The corporation playground is profit but also risk-taking. A system of this kind keeps the cost of capital down and ensures optimal allocation of national and foreign savings. In this way, the financial sector can actively contribute to the growth of the real economy. Thank you for your attention.