IT is indeed timely that Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar has clarified that “there are already specific guidelines that prohibit regulators from taking board seats in companies that are involved in industries they oversee”.
We urge the Minister to expand the prohibition to disallow regulators from joining any company that they oversee before they resign or retire from government service. If this is unfair, then there must at least be a five-year “cooling off” period.
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