Manesh Samtani
Manesh Samtani is the Editor at Regulation Asia, where he leads the regional news desk from Hong Kong, directing coverage of critical regulatory developments impacting financial services across APAC. Manesh specialises in analysing how new rules and technologies are reshaping banking, capital markets, and the fight against financial crime, providing finance professionals, compliance leaders, and policymakers with the intelligence they need to navigate risk and understand the impact of regulatory change in the region. manesh@regulationasia.com
Articles by Manesh Samtani
Capital / Liquidity
US Finalises Climate Risk Framework for Large Banks
25/10/2023
The framework comprises a set of principles that are substantively similar to those proposed in December 2022.
Securities / Derivatives
SFC Takes Issue With Practices of Fund Distributors
24/10/2023
The SFC calls out distributor practices such as offering guaranteed returns, imposing lock-up periods, and lowering dealing frequency.
AML / KYC
FATF Removes Switzerland from Enhanced Follow-Up
24/10/2023
The FATF upgraded Switzerland’s ratings on two recommendations in response to law reforms that took effect at the beginning of 2023.
AML / KYC
FATF Upgrades Japan Ratings on Five Recommendations
24/10/2023
Japan was re-rated from partially compliant to largely compliant on four recommendations and from non compliant to partially compliant on one recommendation.
Big Picture
New Paper Sheds Light on CCP Credit Risk Management Practices
23/10/2023
The paper from CCP Global provides information on how CCPs conduct ongoing credit monitoring to make informed risk assessments and safeguard market integrity.
Crypto / Digital Assets
SFC, HKMA Issue New Joint Circular on Virtual Assets
22/10/2023
The circular supersedes a similar circular from January 2022, setting out additional requirements for intermediaries providing virtual asset services to retail investors.
Enforcement
NYAG Sues Crypto Firms Gemini, Genesis, DCG for Fraud
20/10/2023
“Gemini hid the risks of investing with Genesis, and Genesis lied to the public about its losses,” said AG Letitia James. The lawsuit says 230,000 investors lost more than $1bn.
Enforcement
ICAC Arrests Three in Joint Operation with SFC, AFRC
20/10/2023
The case involves suspicions of corporate fraud, corruption, and a conspiracy between a ramp-and-dump syndicate and two listed companies.
Crypto / Digital Assets
ESMA Calls on NCAs, Crypto Firms to Start Preparing for MiCA
20/10/2023
ESMA is concerned that MiCA’s optional grand-fathering period might allow some crypto firms to continue operating without a full licence all the way until July 2026.
AML / KYC
KoFIU Calls on Financial Industry to Bolster AML Efforts
20/10/2023
AML evaluations identified independent audit, customer verification, and manpower shortages as areas for improvement. More attention is also needed on virtual assets.
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