Question: Each separate answer to items (a), (b), and (c) in this question should be written in less than 300 words. (a) Determine correctly the two

Each separate answer to items (a), (b), and (c) in this question should be written in less than 300 words.

(a) Determine correctly the two (2) regulatory pillars that got actioned successively in 2020-2023 over the COVID crisis and its aftermath. (7 marks)

(b) Illustrate five (5) characteristics of a well-functioning financial system that applies to Singapore today. (10 marks)

(c) Implement the PESTEL framework and indicate, in your opinion, which was the strongest driving force for the financial markets in 2022. (8 marks)

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