In the first 6 months of the year, party committees at all levels have inspected 53 party organizations and 186 party members; supervises 24 party organizations and 169 party members; disciplining 1 party organization and 28 party members. Inspection Committees at all levels conducted inspection when there were signs of violations against 1 party organization and 8 party members; inspect the performance of inspection and supervision tasks for 22 party organizations; inspect the implementation of discipline within the Party for 5 party organizations; supervise 11 party organizations and 33 party members; disciplining 12 party members; inspect the collection, payment, management and use of party fees for 36 party organizations; settlement of accusations of 3 party members… Mr. Nguyen Van Ghi requested the next time the inspection committees at all levels base themselves on the regulations and work processes of inspection and supervision of the Provincial Party Committee to advise the committee to amend and supplement to suit the local situation. . In addition, strengthen inspection and supervision of the formulation and implementation of the working regulations of the Party Committee; regularly monitor and grasp the situation of the area in order to promptly correct and check when there are signs of violations, to prevent defects, prolonged violations … NGUYEN NGUYEN

Public opinion is having a lot of opinions about the regulations related to advertising activities in the press mentioned in Decree 38. Illustration .PV: Dear Director, there are many opinions about the regulations related to advertising activities in the press mentioned in Decree 38, which will take effect on June 1. In particular, the main contents of interest are related to advertising activities on electronic newspapers. Could you tell me more specifically about the current regulations on advertising on electronic newspapers that are being applied? – Director of Ninh Thi Thu Huong: According to the Law on Press, e-newspaper is a type of press using writing, images, and sound, which is transmitted on the network environment, including electronic newspapers and electronic magazines (Clause 6, Article 3). . Electronic newspapers and other types of newspapers may publish and broadcast advertisements. However, the posting and broadcasting of advertisements must comply with the provisions of the Press Law and the provisions of the law on advertising (Article 44 of the Press Law). Accordingly, the Law on Advertising has specific and separate regulations for each type of press, suitable to the nature, functions and characteristics of each type, especially regulations on content and area. , duration, ad rate. For example, for printed newspapers, the advertising area must not exceed 15% of the total area of ​​a newspaper publication or 20% of the total area of ​​a magazine publication, except for newspapers and magazines specialized in advertising; and must have signs to distinguish advertising from other contents (Clause 1, Article 22 of the Law on Advertising). For audio and video newspapers, Article 22 of the Law on Advertising stipulates: the advertising duration must not exceed 10% of the total duration of the broadcast program per day, except for the advertising duration on channels and programs specialized in advertising; must have signs to distinguish advertising contents; regulations on programs not to broadcast advertising; regulations on the number of breaks, the time of advertising in feature films, entertainment programs, regulations on the position and area of ​​advertising in the form of running words or a series of moving images close to the bottom of the screen. For electronic newspapers, Clause 1, Article 23 of the Law on Advertising stipulates that advertisements on electronic newspapers must: Do not design, arrange advertising parts mixed with news content; For ads that are not in a fixed area, it must be designed so that readers can actively turn off or open the ad, the maximum waiting time to turn off or open the ad is 1.5 seconds. Thus, according to the above regulations, the e-newspaper is arranged to advertise in a fixed, separate area, not mixed with the news content. For this ad, there is no restriction on the length of the ad nor is it designed so that readers can actively turn on or off the ad. But for ads that are not in a fixed area, it must be designed so that readers can actively turn off or open the ad, the maximum waiting time to turn off or open the ad is 1.5 seconds. .Many opinions believe that the regulation of the on and off time of advertisements not in a fixed area of ​​the electronic newspaper is 1.5 seconds too strict, reducing advertising revenue and affecting the development of the newspaper. electronic? What is your opinion about these comments? – The purpose of this regulation is to protect viewers because the press is an information product about events and issues in social life. Readers when viewing newspapers are always serious in receiving information. Therefore, all types of newspapers have regulations on fixed areas (space, duration) dedicated to advertising, but regulations on advertising that are not in fixed areas will not be available in print or print newspapers. Let’s try to imagine a news program on television or an editorial in a print newspaper with advertising images covering the whole frame, how will viewers react? Director of the Department of Grassroots Culture Ninh Thi Thu Huong Regulations for online newspapers are still allowed to advertise not in fixed areas, but must “Make sure to design so that readers can actively turn on or off ads. The maximum time to turn off or open the ad is 1.5 seconds. Please note here must be very careful from “active”, Because it’s the reader’s right. If they are watching important news, they can immediately turn off the ad so it doesn’t affect them, if they don’t want to turn it off, the ad can continue to play without time control. Therefore, it can be seen that this regulation does not limit advertising activities of electronic newspapers, but only meets two requirements of viewers: one is to have a key to turn off (on); Second, if there is an on or off operation, they must respond immediately within 1.5 seconds, to avoid the case that readers have to watch ads that are forced, inhibiting, and cannot fully and continuously view information. that they want to receive. .Compared between Decree 38 and Decree 158/2013/ND-CP (Decree 158), regulations on violations for advertising not in fixed areas on electronic newspapers, there is no difference. Thus, the regulation on “turning off and on after 1.5 seconds” was not issued until Decree 38? – Right. Clause 3, Article 55 of Decree 158 stipulates: A fine ranging from VND 10,000,000 to VND 15,000,000 shall be imposed for one of the following acts: Failing to design so that readers can actively turn off or open advertisements not in a fixed area; The timeout to turn off or open the ad not in a fixed area exceeds 1.5 seconds. Until Decree 38, Clause 2, Article 38 also stipulates: A fine ranging from VND 10,000,000 to VND 15,000,000 shall be imposed for one of the following acts: Failing to design so that readers can actively turn off or open advertisements not in a fixed area; Waiting time to turn off or open ads not in a fixed area exceeds 1.5 seconds; Design and layout the ad mixed into the news and article content. Thus, the handling of violations against regulations on advertising not in fixed areas has been regulated since 2013 in Decree 158, not until Decree 38 was issued. It can be seen that the handling of the above behavior in the two Decrees is the same, there is no change. Decree 158 and Decree 38 are documents under the Law, on subjects, acts and sanctioning levels are consistent with the provisions of the Law on Advertising and the Law on Handling of Administrative Violations. . So, according to the provisions of Article 23 of the Law on Advertising and Clause 2, Article 38 of Decree 38, specifically, how will the act of advertising on an e-newspaper be sanctioned, ma’am? Director General Ninh Thi Thu Huong: In fact, according to the feedback of readers and the monitoring and inspection process of the management agency, the act of advertising that is not in a fixed area of ​​the electronic newspaper will be sanctioned if it does not meet two requirements: Not necessary. design keys to be able to actively turn off (on) ads; When there is an operation to turn on or off but the off (on) time is not guaranteed to be 1.5 seconds. Of course, in the processing process, it will have to take into account the speed of the transmission, the quality of the data network access to measure the time and consider whether the behavior is intentional or due to the objective factors of the electronic press agency to consider. , handle accordingly. . Along with concerns about advertising revenue of electronic newspapers will be narrower, many other opinions also wonder about social networking platforms such as Youtube, Google … are not regulated by this regulation? Could you please share your views on these concerns? Director General Ninh Thi Thu Huong: We must clearly recognize that the press in general and the electronic press in particular is an essential means of information for social life; is the mouthpiece of the Party, the State, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations; is a forum for the people according to the provisions of the Press Law. With such an important role, it is necessary to have separate regulations on advertising for each type of press, in accordance with the functions, structure, principles and operational purposes of the press agency. Social networking platforms such as Youtube, Google … are currently thriving, occupying a large advertising market share, but these platforms are not press agencies, operating criteria as well as participants. , the interaction is also different. On the other hand, the operation of social networking sites is governed by a system of regulations on management, provision and use of Internet services and information on the network. Therefore, the regulation and application to advertising activities on social networks is not the same as that of the press agency, but it must still aim at ensuring the truthfulness and accuracy of information, protecting the interests of the media. to the recipient, without causing harm to national security, social order and safety in accordance with the Law on Advertising. .Can you tell me that in the near future, the solutions will be strengthened by the Ministry of Culture, Sports and Tourism to further improve the efficiency of state management of advertising activities, especially the efficiency of the enforcement of legal documents. related? – There will be many enhanced solutions, of which the first solution is to continue to propagate and disseminate to relevant organizations in order to agree on awareness to strictly enforce the provisions of the law on advertising. . In 2022, the Ministry of Culture, Sports and Tourism will conduct a review of 10 years of implementation of the Law on Advertising and guiding documents in order to grasp changes in advertising activities, new means and methods of advertising, from which to make recommendations. , propose amendments to the regulations in line with reality. The Ministry of Culture, Sports and Tourism will also strengthen coordination with relevant ministries and branches to amend and complete the legal framework for advertising activities as well as in coordination in inspection, examination and timely handling of illegal acts. violate the law on advertising. At the same time, the Ministry will also conduct training activities to improve professional expertise and state management skills in advertising for cadres and civil servants from central to local levels. . Thank you very much, Chief! “… The current regulation for online newspapers is that advertising is still not allowed in fixed areas, but it must be designed so that readers can actively turn on or off ads. The maximum time to turn off or open the ad is 1.5 seconds. Please note here that the word “active” must be very careful, because that is the right of the reader. If they are watching important news, they can immediately turn off the ad so it won’t affect, if they don’t want to turn it off, the ad can continue to play without time control … “. TOLD HIM (perform)

Applying IT into practice, developing smart cities with the motto of taking people as the center, TT-Hue provincial government has helped the people of the ancient capital promote their mastery role. On the morning of July 12, 2020, a group of 120 people carrying King Ham Nghi Long from TT-Hue province to Quang Tri stopped at O ​​Loi noodle shop on Le Huan Street (Hue City) for breakfast. The owner of the restaurant “hacks” each bowl of vermicelli 60,000 VND (normal price ranges from 25,000 to 30,000 VND). Mr. LHT (a person traveling with the delegation) was angry and reflected on his personal facebook with the desire that the authorities come in
inspection and correction. Upon receiving information from the interactive system of the Hue Smart City Monitoring Center, the Market Management Department of TT-Hue province sent officers to verify, make a record of administrative violations and sanction 750,000 VND for O Loi noodle shop for the act of “not listing the prices of goods and services at the price listing point as prescribed”. State President Nguyen Xuan Phuc (when serving as Prime Minister) during a visit to the Hue Smart City Management Monitoring Center “I reported on July 12, but only 3 days later, the functional force of TT-Hue province quickly took action and corrected us, making us very satisfied,” said Mr. T. About 2 years ago, the streets of Hue city center became the obsession of every passerby. Hundreds of people blatantly encroached on the sidewalk to trade. Shops and vehicles are messy, creating sloppy, offensive scenes, “bad” the face of the city of Hue. A campaign to restore urban order was directed and implemented by leaders of TT-Hue Provincial People’s Committee. Smart urban surveillance system with hundreds of “magic eyes” are cameras installed on all streets, accessing data, supporting the government to thoroughly handle violations. Those are just stories, small things among thousands of events received and handled during the journey of building a smart city in TT-Hue. People at the center TT-Hue is one of the first localities to build an e-government architecture after the e-Government framework was promulgated. 300 cameras were installed, transmitting data to the center. Along with e-government, smart city development has become an inevitable trend, a revolution in the digital transformation era. Director of the Department of Information and Communications of TT-Hue province, Mr. Nguyen Xuan Son said: “Its effect is that people and businesses can promote their own role. The motto is to take the people as the center. Going from “advocacy” to “sanctions” and becoming a need …”, Mr. Son said. In early 2019, TT-Hue province made a breakthrough decision when piloting smart city services (IOC) on the Hue-S application platform. The smart city management center located at the Department of Information and Communications of the province is considered the “headquarters” agency, responsible for implementing services, receiving input from the society; analyze, verify and transfer information to competent authorities. On the basis of information technology application, a series of application solutions such as field reflection; group of urban surveillance camera solutions; warning information; monitoring local press information; electronic cards of civil servants; supervision of public administrative services; electronic advertising monitoring; environmental monitoring; information security monitoring
and fishing vessel monitoring… have been integrated on Hue-S. Camera sensors detect traffic violations. On the Hue-S application platform, people use smart phones to take photos and send videos of issues that need to be reported to the system and keep their personal information confidential. Based on the images provided by the people and data recorded directly from the IOC’s image system, the Monitoring Center will classify each specific content and send it to the relevant authorities for processing. In addition to the reflected inadequacies, the application has also been responded to and deployed by the people and through which the values ​​of people, culture, humanity… have been actively promoted, many good examples of good work. good is found, many humanistic actions are developed. The software is deployed under the tracking mechanism and cannot take any action that can interfere with data deletion. All this information is publicly available on the website for people to monitor, so it is not possible to intervene to handle violations. Roadmap for building a smart city Not coincidentally, at the Digital Transformation Week 2021 taking place in Hue City from April 27, Deputy Minister of Information and Communications Nguyen Huy Dung said that, at the local level, TT-Hue Province Think of yourself as a miniature country to apply the right strategy, set the right goals and do the right things. The human resource system analyzes and streams reflections to send to the relevant authorities for handling. TT-Hue must become a destination for major national and world technology events with dual goals: Developing tourism while developing technology and becoming a model for digital transformation. “- Mr. Dung said. In the past two years, TT-Hue province ranked 2nd out of 63 provinces in terms of readiness for ICT development and application in Vietnam – Vietnam ICT Index 2020 according to technical infrastructure indicators, human infrastructure indexes, etc. force. Hue’s work is also being widely deployed across the country. The project on development of smart cities in Vietnam for the period of 2018-2025 and a vision to 2030 clearly identifies major issues including: Building a legal foundation for smart city development; Develop management tools, institutions, for example, a framework to guide criteria and evaluate smart cities of cities; Formulate specific regulations, regulations and standards on planning on smart construction in urban areas. The goal is that by 2030, the whole country will form a chain of smart cities in the North, Central, South and Mekong Delta regions with Hanoi, Ho Chi Minh City, Da Nang and Can Tho as the core. forming a chain linking smart cities. The results of the smart city deployment process will increase people’s trust in the government and vice versa, governments at all levels and management units will be more motivated because they must maintain that trust, to continue to improve operational efficiency. Currently, the province has 300 sensor surveillance cameras and is expected to have 1,500 cameras by 2025. Since its establishment, traffic surveillance cameras have detected and transferred 4,300 cases of violations to the police; processed 3,600 cases and 700 cases in progress. Meanwhile, with the solution to reflect the scene (Hue-S), the Center has received 30,425 complaints (there are 20,000 reports eligible to receive); 214 agencies in the province have handled 18,500 complaints, 1,500 complaints are under review. The project on development of smart cities in Vietnam for the period of 2018-2025 and a vision to 2030 clearly identifies major issues including: Building a legal foundation for smart city development; Develop management tools, institutions, for example, a framework to guide criteria and evaluate smart cities of cities; Formulate specific regulations, regulations and standards on planning on smart construction in urban areas.

Smart things (public account: zhidxcom)

Compilation | Qu Wangmiao

Edit | Jiang Xinbai

Wise things April 22 news, according to foreign media reports, this Wednesday, the European Union’s executive body proposed a bill to restrict the use of some artificial intelligence technologies, and will create a so-called “artificial intelligence high-risk uses list” “Regarding related industries, companies that severely violate the regulations may be fined 6% of their total annual revenue. This is one of the biggest efforts to regulate high-risk applications of artificial intelligence so far.

However, for this proposal to become law, it will take several years to obtain the approval of the European Council and the Parliament, and in the process to make adjustments to its prescribed scope and specific regulatory measures.

In 2018, the new privacy law “General Data Protection Regulation (GDPR)” promulgated by the European Union provides a template for widely applicable data supervision rules and is supported by high fines. However, according to the predictions of relevant people, this time The bill does not necessarily have the same effect.

1. It is forbidden for police to use face recognition, but judges can be exempted widely

   The bill directly prohibits some behaviors. As a complement to the social credit system, the proposal will also prohibit the use of “subliminal technology” or artificial intelligence systems that insult the disabled, “distort the behavior of others,” and may cause physical or psychological harm.

   EU officials hope to use the bill to restrict the police from using facial recognition technology.

   Although the police usually cannot use the so-called “remote biometric system” in public places, such as face recognition, the judge can approve immunity, such as child kidnapping, terrorist threats, etc., can also be used to lock out fraud and murder Waiting for the suspect of the crime.

   “The scope of the exemption is incredible,” said Sarah Chander, a senior policy adviser for European Digital Rights, a non-governmental organization network. Such a list “a little bit contrary to the claim of facial recognition. Is the purpose of the ban.”

2. The high-risk artificial intelligence provider “hands in homework”, the bank takes the lead

Providers of artificial intelligence systems used for high-risk purposes need to submit relevant documents to the regulatory agency, in which they specify how their systems work. Margrethe Vestager, the executive vice-chairman of the European Commission (European Commission), the executive body of the European Union, believes that this type of system also needs to be in the design of the system, the way it is used, and the quality of the data used to train artificial intelligence. , Showing “appropriate human supervision.”

Large banks took the lead in introducing their artificial intelligence algorithms to regulators, and the application of these algorithms can help prevent the global credit crisis. According to Andre Franca, former director of Goldman Sachs’ model risk management team and current data science director of artificial intelligence startup causaLens, more companies will eventually adopt the same approach.

For example, Dr. Franka said that in the past 10 years, banks have had to hire teams to help provide regulators with the mathematical code behind their artificial intelligence models, sometimes with more than 100 pages of code per model.

Dr. Franca said that the EU can also send a supervisory team to the company to personally review whether its artificial intelligence algorithms fall into the high-risk categories specified in the proposal, such as systems that recognize faces or fingerprints, and algorithms that may affect personal safety. He also said that the European Central Bank’s regulators often review the codes submitted by banks through several days of seminars.

The EU also stated that the new bill will not establish new regulations for most artificial intelligence applications such as video games and spam filtering. But some low-risk artificial intelligence systems, such as chatbots, need to inform users that they are not real people.

“We have to clearly tell users that they are interacting with a machine,” Westger said.

Deep forgery, that is, software that performs face-changing in the video, also needs to indicate this. Ukraine-based NeoCortext has developed a popular face-changing app, Reface. The company said it is marking it up and will work hard to follow EU guidelines. “For fast-growing start-ups, there is now a challenge that is to regulate the rules.” Neocortext CEO Dima Shvets (Dima Shvets) said.

1. There are divergent opinions, and it will take time for the new bill to come into effect

   Although some digital rights activists appreciate some of the content of this proposal, they say that there seem to be too many loopholes in other content. Others in the industry believe that this proposal will bring advantages to Chinese companies that do not have these restrictions.

   “This will make building artificial intelligence in Europe very expensive and even technically infeasible,” said Benjamin Mueller, a senior policy analyst at the Center for Data Innovation of a technology think tank. The United States and China will watch with interest the European Union destroying their start-ups.”

   However, some lobbyists in the technology industry believe that the bill is not too strict. It merely imposes strict supervision on certain so-called “high-risk artificial intelligence applications”. These applications include software used in critical infrastructure and police use to predict crime. algorithm.

   Christian Borggreen, vice president and head of the Brussels office of the Computer & Communications Industry Association, believes that “it is a good thing for the European Commission to adopt this risk-based approach.” Computer & Communications Industry associations represent many large technology companies such as Amazon, Facebook, and Google.

   Julien Cornebise, Honorary Associate Professor of Computer Science at University College London and a former Google research scientist, said that the new regulations will not necessarily have the same impact as the GDPR, which was introduced by the European Union in 2018. The General Data Protection Regulation (General Data Protection Regulation), which restricts a large number of organizations that collect, transmit, retain, or process personal information related to all member states of the European Union.

   “Artificial intelligence is a mobile benchmark,” he said. “Our mobile phones are doing things that were considered’artificial intelligence’ 20 years ago. One risk of the new bill is that it regulates the’artificial intelligence’ The definition is changing, and it may become inapplicable or be eliminated soon.”

   Conclusion: High-risk applications of artificial intelligence urgently need supervision

   In recent years, the European Union has been trying to take the lead in drafting and enforcing new regulations designed to curb the so-called “excessive behavior” of large technology companies and curb the potential dangers of new technologies, covering areas ranging from digital competition to online content review And so on, very extensive. Previously, the EU’s GDPR provided a template for widely applicable regulations, so other countries and some states in the United States have adopted similar practices.

   As Westger said, “Our regulations are designed to address the human and social risks associated with specific uses of artificial intelligence. We think this is urgent. The European Union is the first to propose such a legal framework.” In the future, With the development and wider application of artificial intelligence technology, there may be more

These regulations are part of the EU’s effort to regulate the AI ​​sector and catch up with the US and China in an area that spans from voice recognition to insurance and law enforcement.

This draft provision would prohibit general supervision of citizens, as well as any technology used to manipulate citizens’ behavior, opinions or decisions. The application of AI in the military field is not within the scope of these regulations.

Violations of the aforementioned regulation, depending on the severity, can result in businesses being fined up to 4% of global revenue.

To encourage innovation, Brussels also wants to provide a clear legal framework for billionaires in all 27 member countries of the bloc.

To achieve this, the draft regulation states that companies will require a special validation of deemed “high-risk” applications before being allowed to hit the market.

High-risk systems are those that have “the function of identifying people in public places from a distance through biometric features”, as well as “factors of security in institutions. important public infrastructure ”.

In addition, applications not considered “high risk” will not be subject to any additional regulations other than the applicable ones.

Google and other major tech corporations are very interested in the EU’s AI strategy, as Europe is often the place that sets the standard for how technology is governed around the world.

Last year, Google warned the EU’s definition of AI was too broad and Brussels had to avoid excessive control over a key technology.

The above draft regulations must be ratified by member countries and get the approval of the European Parliament before they can be applied./.

Family offices: practically unregulated

The advantage of a so-called family office in which investors manage their own assets is that they are practically not subject to any regulatory or disclosure requirements. This is different with other constructions such as hedge funds that do business with other people’s assets: They must be registered with the US Securities and Exchange Commission and report quarterly on the investments in their portfolio. They are also obliged to disclose data on the ownership structure, assets under management and contacts with banks. For wealthy private individuals, a family office is therefore an ideal opportunity to move billions away from the public and regulatory authorities and to do business that should not necessarily be known. Which super-rich would like their investments to be discussed in detail by a broader public? This is also the reason why very few details are known about Hwang’s bets. The trigger for the problems at Archegos was apparently the price development of the share of the US media company ViacomCBS. Credit Suisse and the Japanese bank Nomura were particularly hard hit. Competitors such as Morgan Stanley, Goldman Sachs, JP Morgan or Deutsche Bank, who also had business relationships with Archegos, were able to get themselves to safety in good time.

The warning ignored

For Hwang, the secretive nature of a family office is likely to have been a major factor, as he has repeatedly come into conflict with laws in his investor life. In 2012, the US Securities and Exchange Commission accused him of insider trading. Hwang had to pay $ 44 million to get this done. Hwang has learned a painful lesson, he would be well advised to heed this warning, SEC Director Robert Khuzami advised him in the Securities and Exchange Commission notice. Khuzami’s warning went unheeded: In 2014, a court in Hong Kong banned him from trading stocks there for four years after Hwang admitted using inside information when trading Chinese bank stocks. In 2013 he founded his family initiative Archegos Capital.

Family offices are becoming increasingly popular

Family offices are playing a growing role as actors in the financial markets. Of course, many wealthy families do not want to increase their capital in extremely risky ways – and in the process get shipwrecked like Hwang. The aim is to manage the capital for years to come and generate returns. Most family offices are interested in long-term investments, as a study by the Insead business school found. A 2019 study by analyst firm Campden Research said they managed roughly $ 6 trillion in assets worldwide. In 2020, the family office of the Walton family, the founding family of retailer Walmart, was at the top with more than $ 160 billion in assets under management. According to estimates by the consulting firm EY, there are currently around 10,000 family offices around the world. The trend has been increasing for years. Most family offices have been created in the past 20 years, according to Insead. According to the experts at the consulting firm KPMG, one reason for the popularity is simply the fact that there are more and more wealthy families.

Where were the regulators?

The collapse of Archegos could now bring the issue of regulation of family offices on the agenda: The massive transactions and losses would raise questions that affect the banks and their relationship with Archegos, commented the Democratic US Senator Sherrod Brown on the incidents. The treatment of family offices should also be questioned. The “Financial Times” quotes Mark Sobel, chairman of the US think tank OMFIF, a longstanding and high-ranking employee in the US Treasury. He agrees with Brown: Archegos raise fundamental questions about the suitability of banks’ risk management. The regulatory perspective on the interactions between banks and non-banks should also be examined – to which, as we have seen, family offices have long belonged as powerful players in the financial markets. ECB director Isabel Schnabel told “Spiegel” that the collapse shows that there are significant regulatory gaps in funds. “Fortunately, it has only been a single fund so far. Nevertheless, this is a warning signal that there are considerable systemic risks here that need to be better regulated.” So why do banks provide at least a seedy figure like Hwang with credit billions that he can gamble away on dubious bets? And why doesn’t a supervisory authority know anything about it? Questions that should be answered quickly.