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
FDIC Official Says 2018 Rule Changes Did Not Cause SVB Failure
14/04/2023
SVB’s collapse was mostly attributable to mismanagement of interest rate risk. Regulatory change should be evaluated “thoughtfully”.
Market Infrastructure
FSB Proposes Standard Global Approach to Cyber Incident Reporting
14/04/2023
The FSB will establish a new working group to further develop its proposed ‘format for incident reporting exchange’, known as FIRE.
Fintech / Regtech
Italy ChatGPT Ban Prompts Broader Scrutiny of AI Tools
12/04/2023
Taiwan is exploring the use of AI tools by banks. China has issued draft rules for AI development. The US is exploring accountability mechanisms for AI systems.
Crypto / Digital Assets
China Fines Crypto Miner Bitmain for Tax Violations
12/04/2023
Bitmain’s Beijing unit failed to withhold and pay personal income tax on employees’ salaries and other benefits totalling CNY 16.6 million.
Fintech / Regtech
Philippine Banks Undergo Major Change in Regulatory Reporting
11/04/2023
BSP deputy governor Chuchi Fonacier says 18 reporting templates and Excel files totalling 300-plus schedules are being reduced to a single XML file.
Crypto / Digital Assets
New FTX Report Reveals Extent of Control Failures
11/04/2023
FTX stored private keys in plain text documents without encryption on an FTX group server that was accessible by staff.
Crypto / Digital Assets
ECB Official Says MiCA Still Needs Further Strengthening
10/04/2023
Pre-collapsed FTX and today’s Binance would not meet the threshold for classification as ‘significant’ CASPs. Even if they did, stricter requirements wouldn’t apply.
Market Infrastructure
Final Rules for Swap Connect Agreed by Authorities – Report
10/04/2023
Swap Connect could start trading by June if not sooner. Mainland treasury bond futures may also become accessible from Hong Kong.
Enforcement
US Authorities Fine Microsoft for Export Control, Sanctions Breaches
09/04/2023
Microsoft’s Russia-based employees ordered software licenses in the names of parties not on the Entity List, to be used by designated persons.
Crypto / Digital Assets
US Treasury Publishes First Ever DeFi Risk Assessment
07/04/2023
Treasury calls on the private sector to use the risk assessment to inform their risk mitigation strategies, and offers recommendations on government action.
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