Venture capital for small businesses, long-term investors for infrastructure and new funding channels for banks will be the priorities for the next stage of the European Commission's capital markets union plans, says European commissioner Jonathan Hill.

Tseng Ming-chung, chairman of Taiwan’s Financial Supervisory Commission, is seen by many as the bringer of long-awaited deregulation and reform. Two years into his mandate, Mr Tseng gives The Banker an update on his strategy, which is already bearing fruit.

Accusations of money laundering levelled at Banca Privada d’Andorra by the US authorities threatened to destabilise the country's banking sector, so the government had to act quickly to contain the crisis. Now, Andorran authorities are keen to show that this was an isolated case and that the wider banking sector is both closely governed and performing successfully. 

Increasingly confident that they have made the banking sector resilient to any future financial crisis similar to that of 2008, regulators are now turning their attention to shadow banking. But a very different approach may be necessary.