Manesh Samtani

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    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

    AML / KYC

    US: ABA Warns Against Liability Shift for Fraudulent P2P Payments

    04/11/2022

    Making banks liable for customer-initiated P2P transfers that result from fraud will harm consumers and competition, embolden scammers, and ultimately increase fraud rates.

    ESG / Sustainability

    ECB Sets New Deadlines for Managing Climate & Environmental Risks

    04/11/2022

    The deadlines will be closely monitored and, if necessary, enforcement action will be taken, the ECB said, adding that bank capital requirements are already being affected.

    Market Infrastructure

    Hong Kong to Subject Foreign Investment Gains to Profits Tax

    02/11/2022

    A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.

    Capital / Liquidity

    Financial Groups Pledge Capital to Stabilise Korean Markets

    01/11/2022

    KRW 95 trillion will ultimately be channeled by 5 financial groups into corporate bonds, other debt securities, state firms, and small merchants and businesses.

    Crypto / Digital Assets

    SFC Considers Allowing Retail Access to Crypto, Starting with ETFs

    01/11/2022

    ETFs with crypto exposure through CME-listed BTC and ETH futures can be distributed to Hong Kong retail clients. The “professional investor only” requirement is under review.

    Fintech / Regtech

    Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets

    31/10/2022

    The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.

    Fintech / Regtech

    EU Commission Proposes New Rules on Instant Payments

    30/10/2022

    Banks would be required to offer instant payments at the same cost as other credit transfers. Instant euro payments may later be expanded internationally.

    Fintech / Regtech

    HKMA Issues Regtech Guide for Sales and Suitability Practices

    28/10/2022

    The guide describes a solution to automating product due diligence and a governance tool for improving oversight of the sales advisory process.

    Capital / Liquidity

    MAS Proposes New Rules for Crypto Firms, Stablecoin Issuers

    27/10/2022

    Retail investors won’t be allowed leverage and will have to undergo a knowledge test. Stablecoin issuers will have strict rules on reserve assets and a S$1bn capital requirement.

    Enforcement

    Australia: Hackers Accessed Data of 4m Customers, Medibank Admits

    26/10/2022

    Medibank does not have cyber insurance, and is expected to face investor class actions, on top of lawsuits from angry customers and likely fines.

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