Manesh Samtani
Manesh manages the news desk and serves as an editor at Regulation Asia. He covers regulatory changes across Asia Pacific that impact banking, capital markets, asset management, and financial services more generally. Manesh is a former trader and investment consultant with a degree in Finance and Banking. manesh@regulationasia.com
Articles by Manesh Samtani
Fintech / Regtech
MAS Issues New Rules on Managing Outsourced Services
12/12/2023
Banks will have to provide details to MAS about the services they outsource and ensure it can audit the service providers and obtain records and documents from them.
Crypto / Digital Assets
FSC Korea Proposes Rules to Protect Virtual Asset Users
12/12/2023
VASPs must store at least 80% of customers’ virtual assets in cold wallets, purchase liability insurance, hold reserves, and monitor for abnormal transactions.
ESG / Sustainability
HKMA to Launch Physical Risk Assessment Platform for Banks
12/12/2023
HKMA’s Arthur Yuen also said the first version of Hong Kong’s green classification framework will be released “very soon”.
Big Picture
IMF to Expand AML/CFT Data Analytics Capabilities
11/12/2023
The IMF plans to increase focus on assessing and mitigating the macro-economic impacts of illicit flows in the global financial system.
Market Infrastructure
Korea Enhances Executive Accountability for Internal Control Failures
11/12/2023
Similar to the UK regime, financial firms will have to document the responsibilities of their executives, who would face disciplinary action if they fail to fulfill their duties.
Fintech / Regtech
Australia Proposes Licensing Framework for Payment Services
09/12/2023
Payment service providers would need to be licensed by ASIC, and in some cases, APRA. The ePayments Code will also be updated and made mandatory.
Securities / Derivatives
MAS Updates CMSL Guidance on CEO and Director Appointments
09/12/2023
Capital markets firms must ensure proposed CEOs and directors are fit and proper and have 10 years of experience that is “relevant” to the role.
Capital / Liquidity
BCBS Says it Will Launch Three New Consultations
08/12/2023
The consultations will deal with the standards for crypto assets, interest rate risk in the banking book, and window-dressing by G-SIBs.
Crypto / Digital Assets
Singapore, China Announce New Bilateral Cooperation Agreements
08/12/2023
The agreements include a cross-border e-CNY pilot, a possible PayNow-UnionPay linkage, and an MoU between SGX and GFEX.
AML / KYC
MAS Consults on Scope of Customers Relevant to COSMIC
07/12/2023
Any person who requests the bank in Singapore to carry out a transaction would be in scope, whether or not an account has been opened or the transaction is carried out.
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