(Nov 15): Singapore is turning out to be a model of capital-market development for some countries in the Middle East and Africa, according to Michael Piwowar, former commissioner at the US Securities and Exchange Commission.

The city-state’s legal and institutional framework offers a good example for some developing markets, particularly because it isn’t over-regulated like the US, Piwowar said in an interview on the sidelines of Singapore’s annual fintech festival on Wednesday.

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