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
AML / KYC
FATF Releases Mutual Evaluation Report for Brunei
30/08/2023
The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.
AML / KYC
Laos AML/CFT Regime Has “Significant Deficiencies” – FATF
30/08/2023
Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.
AML / KYC
Singapore AML Probe Expands to Precious Metals, Property Agents
29/08/2023
MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.
Crypto / Digital Assets
Korean Banks Impose New Requirements on Crypto Exchanges
29/08/2023
Korean crypto exchange will need to set aside reserves worth $2.3mn, or 30 percent of their daily average deposits, whichever is greater.
Enforcement
US SEC Settles First NFT-related Enforcement Action
29/08/2023
The SEC says NFTs offered and sold to investors by Impact Theory were investment contracts and therefore unregistered securities.
Market Infrastructure
China Moves Ahead With Capital Market Support Measures
28/08/2023
The measures include a lower minimum margin ratio, a stamp duty cut, and curbs on stock sales and new IPOs.
Capital / Liquidity
BNM Issues Draft Policy on Liquidity Risk Management
28/08/2023
The policy requires banks to apply early warning indicators and liquidity stress tests to identify emerging liquidity risks and vulnerabilities.
MAS Enhances Safeguards for Vulnerable Advice Customers
28/08/2023
Financial advisory firms have to identify vulnerable customers, conduct pretransaction checks, and ask a “trusted individual” to be present during the sales and advisory process.
Crypto / Digital Assets
US Authorities Propose New Tax Reporting Rules for Crypto
27/08/2023
Crypto firms, NFT platforms, and wallet providers would have to report sales and exchanges of digital assets to the IRS.
AML / KYC
US Sanctions Tornado Cash Co-founder, Arrests Another
24/08/2023
Russian national Roman Semenov was added to OFAC’s sanctions list. Another co-founder, Roman Storm, was arrested on Wednesday.
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