With the eighth anniversary of the September 2008 collapse of Lehman Brothers behind us, many are reflecting on whether the financial sector is better prepared to withstand systemic shocks caused by problems among interconnected entities.
The financial marketplace is far more globalized than it was in 2008, and that has broad implications for risk management. In Asia, for example, a series of financial market initiatives such as trading links between stock markets and fund "passporting" schemes allowing wider cross-border sales is uniting fragmented markets and creating new opportunities.