Monetary Authority of Singapore , `Introduction ' 2007 . Regulatory transparency is an essential element in making regulation effective and fair - and is thus a fundamental foundation for deep , liquid markets . Lack of transparency in the implementation of laws and regulations can seriously impede the ability of financial institutions to compete fairly . Financial services firms face non-tariff barriers in the form of regulatory restrictions , and lack of transparency in the implementation and application of regulations . These barriers can prevent access in much the...











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