The Asian Shadow Financial Regulatory Committee (ASFRC) said Asia continues to face challenges in drawing qualified directors to sit on the board of financial institutions and companies. Part of this is because these firms may be either state or family-controlled. "If it's family-owned, then the family's value and culture somehow creeps into the corporation or institution. You have to be concerned about the influence of those family owners on the minority owners," said Associate Professor Jeremy Goh.
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