In 2009, citizens of the MSAR and our financial market participants cheerfully celebrated the 60th anniversary of our great Motherland and the 10th anniversary of the MSAR. 2009 also marked the 20th anniversary of AMCM in which we fought strenuously with the global financial crisis.
As the banking agencies detailed in our official comment to the Commission on the rules, we believe they are, in a number of critical areas, inconsistent with the language and purposes of the GLB Act, and create an overly complex, burdensome, and unnecessary regulatory regime.