Manesh Samtani

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    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

    Big Picture

    Worst-case Cyber Attack Losses Could Cost Banks Half of Profits – IMF

    27/06/2018

    Extreme risk scenario threatening financial stability characterised by increases in attack frequency and interdependence, or occurrence of large magnitude events.

    Market Infrastructure

    RBI Directs Banks to Upgrade Security Amid Rising ATM Fraud

    26/06/2018

    Banks instruct banks and white-label ATM operators to upgrade ATM security in a phased manner until June 2019, threatening enforcement action for noncompliance.

    Capital / Liquidity

    Laos Scraps Restrictions on Foreign Currency Loans

    26/06/2018

    The 2016 restriction on lending in foreign currencies has been removed in order to allow banks to inject overseas-sourced funding into the country’s economy.

    Securities / Derivatives

    Philippine Bourse to Introduce Short Selling

    26/06/2018

    Only members of PSE index and ETFs are eligible for short selling, up to a maximum of 10% of outstanding shares; naked short selling not permitted.

    Capital / Liquidity

    Further Delays at G-SIBs on Risk Data Compliance – BCBS

    25/06/2018

    Progress report shows only only three G-SIBs have achieved full compliance with Principles for effective risk data aggregation and reporting; complexity and interdependence of IT improvement projects cited as main challenges.

    Capital / Liquidity

    PBOC Cuts RRR to Stem Impact of US Trade Row

    25/06/2018

    Of the funds released with the cut, ¥500b should support debt-to-equity swap programme to lower corporate debt ratios, ¥200b to be used for SME lending.

    Enforcement

    Australian Court Ratifies CBA’s BBSW Settlement

    25/06/2018

    CBA will pay a $A5m penalty, A$15m to a financial consumer protection fund, and $A5m towards ASIC’s litigation and investigation costs; bank also agreed to enter into enforceable undertaking with ASIC.

    Capital / Liquidity

    S. Korea Banks Face Loan Rate Manipulation Probe

    25/06/2018

    FSS found thousands of irregularities in lending rate calculations including omission about income or collateral in credit evaluations, resulting in unfairly high lending rates.

    AML / KYC

    Japan FSA Orders Banks to Report on North Korea JVs

    25/06/2018

    All banks and credit unions ordered to provide the details on accounts used by 10 existing Japan-North Korea joint ventures, including details on individuals and entities, assets, employees and transaction records.

    Crypto / Digital Assets

    GDF Consults on Global Code of Conduct for Crypto Businesses

    22/06/2018

    The Code includes commitment to comply with standing laws and regulations, ensure appropriate systems and processes, and treat customers and their assets fairly.

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