Building confidence through strong regulatory action

LAST week, BT reported that Singapore's central bank and its white-collar crime buster had raided the offices of a few local brokers, most probably as part of an investigation into possible breaches of the law. It isn't known what these breaches might be - the speculation being market manipulation and rigging - yet the response to the raids by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) has been odd, to say the least.

Some trading representatives and their clients were critical, w…