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
SFC Goes Live with Amended Professional Investor Rules
19/07/2018
Holding companies of existing qualified professional investors will gain status as professional investors; intermediaries must obtain confirmation that their shareholders are notified of the change.
Market Infrastructure
SEBI Proposes New Rules for Auditors, Other Fiduciaries
19/07/2018
Under the new proposals, fiduciaries providing false information in audit or valuation reports will face stringent penalties, including bans from securities markets and forced repayment of any gains deemed unlawful.
Securities / Derivatives
HK Exchange Publishes Structured Products Listing Guide
18/07/2018
Guide provides clearer framework and timelines to facilitate more efficient introduction of new structured products.
AML / KYC
SFC Provide Guidance on Online Client Onboarding
18/07/2018
Procedures to verify client identities include obtaining a digitally signed agreement and identity document copy, and the use of designated accounts in the client’s own name only for deposits and withdrawals.
Enforcement
MUFG Brokerage Unit Primary Dealer Status Suspended
17/07/2018
Dealer found to be manipulating prices in JGB futures trading, resulting in one-month suspension of the firm’s primary dealer status for one month.
Securities / Derivatives
Thailand to Expand Collateral Allowed for Margin Trading
16/07/2018
The SEC is consulting on allowing debt instruments, government securities, and mutual fund units as collateral for margin accounts at securities firms.
Enforcement
Japan’s Higashi-Nippon Bank Under Fire for Lending Misconduct
16/07/2018
The bank falsified customers’ financial records to boost loans, illicitly charged fees on loans in addition to interest, and used inappropriate financing methods involving over-lending to customers.
Securities / Derivatives
China Blocks Southbound Access to Dual-Class Stocks
16/07/2018
Shanghai and Shenzhen bourses release joint statement barring domestic investors from trading in foreign companies, stapled securities and stocks with weighted voting rights structures listed in Hong Kong.
Fintech / Regtech
S. Korea to Ease Rules on Cloud Storage of Customer Data
16/07/2018
FSC is expanding the types of information financial companies can store on cloud computing systems to include personal credit and identification information.
Enforcement
CBA Enters Enforceable Undertaking with ASIC for BBSW Manipulation
12/07/2018
CBA will engage an independent expert to assess changes to the banks’ policies, procedures, systems, controls, training, guidance and framework for the monitoring and supervision of employees and trading in Prime Bank Bills.
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