CGL talks on BASEL III and corporate governance in Mongolia

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EY recently held a seminar entitled Banking: Global Trends, BASEL and Corporate Governance for the Mongolian Bankers Association. As one of the speakers, FSRM partner Ian Lauron (CGL) talked about the implementation of BASEL in emerging economies, citing the ASEAN and Philippine experience to date, and the link between systemic and macro-economic risks. He also discussed other strategic themes such as reforming business models, “accept and adapt,” preparing for industry consolidation and structural reforms.

Meanwhile, EY Asia Pacific senior partner Keith Pogson tackled global trends in banking, and with EY Hong Kong and Mongolia partner Adrian Chu, gave a lecture on corporate governance.

During the open forum, both the speakers and the Mongolian banking executives shared insights and raised questions on the implications and unintended consequences of BASEL on emerging and resource-dependent economies, as well as the greater use of simplified credit models in decision-making. They also discussed the application of macro-economic and capital stress testing, which included practical implementation suggestions and a comparison of supervisory-led stress testing programs in jurisdictions around the world. Stress testing, particularly as it relates to foreign exchange and commodity risks, is a topic of interest in Mongolia.

CGL, Keith and Adrian were joined by Peter Markey and Lis Ellis as speakers at a whole-day corporate governance session organized by Mongolia’s Financial Regulatory Commission, EY and international law firm Minter Ellison. CGL gave a presentation on corporate governance in emerging markets and challenges for private companies.