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
Market Infrastructure
FSDC Calls For HK-listed Derivatives Tracking A-Shares
24/09/2020
Once the new A-share based derivatives products are launched in Hong Kong, they should be opened up to Mainland investors via Stock Connect.
AML / KYC
Westpac, AUSTRAC Agree A$1.3bn Penalty for AML Breaches
24/09/2020
If the Federal Court of Australia determines the penalty is appropriate, it will represent the largest ever civil penalty in Australian history.
Market Infrastructure
China to Further Relax Foreign Access to Bond Market
23/09/2020
The PBOC and SAFE are consulting on new rules that will reduce restrictions on outward remittances for institutional investors, among other rule changes.
AML / KYC
FinCEN Files: Philippine Money Remitters Named in SARs
23/09/2020
Philrem and Werquick used local banks to wire funds for unidentified customers without identifying source of funds, the true beneficiary, or the purpose of the transactions.
Market Infrastructure
SGX, NSE Formalise Agreement to Operationalise ‘Connect’
22/09/2020
The Connect will bring trading of SGX Nifty products to GIFT City to create a larger pool of liquidity, comprising both foreign and domestic market participants.
AML / KYC
FinCEN Files Reveal AML Failures at Global Banks
21/09/2020
The trove of documents shows that the banks allowed $2tr to flow through the financial system despite having flagged the transactions as suspicious.
AML / KYC
SFC Revises AML/CFT Guidelines for Securities Sector
20/09/2020
The proposed amendments seek to align the SFC’s guidelines with the FATF guidance for adopting a risk-based approach in the securities sector.
Securities / Derivatives
BIS Report Proposes Carbon Intensity-based Rating System
20/09/2020
A new report proposes a system for labelling issuers for firm-level greenness based on carbon intensity, the ratio of carbon emissions to revenue.
Capital / Liquidity
Stress Tests Reinforce Need for More Bank Capital: RBNZ
19/09/2020
While all banks will be able to continue lending in a ‘pessimistic baseline’ scenario, capital would fall under regulatory minimums in a ‘very severe’ scenario.
Big Picture
Firms Lagging in Preparations for UMR Compliance: Survey
19/09/2020
State Street found that 19% of Phase 5 and 6 firms are fully prepared for UMR compliance. Hedge funds are said to be the least prepared for compliance.
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