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
Credit Risk
China Requires Corporate Credit Data to be Shared Among Banks
11/06/2018
New rules establish information sharing mechanism among lenders for collective gathering and cross-validating business and financial information of borrowers.
KYC & CDD
Foreign Tax Status Disclosures Required by New Zealand Banks
07/06/2018
Banks required to report customers’ foreign tax status by 30 June; customers that do not respond may have their accounts frozen or closed.
Anti-Bribery & Corruption
Malaysia Central Bank Chief Resigns Amid 1MDB Controversy
07/06/2018
Controversy relates to a land purchase by BNM; proceeds used by government to partly settle debt owed by troubled state fund 1MDB.
Trading & Investment
Taiwan to Launch Crude Oil Futures in July
05/06/2018
Taiwan Futures Exchange chairman says crude oil futures will allow domestic investors to trade without adverse currency fluctuations; also exploring the application of fintech and other technologies for clearing services.
Structural Regulation
ASIC Consults on ‘Foreign’ AFS Licence Proposal
05/06/2018
New approach would replace current mechanism of granting relief to foreign financial service providers from AFS licensing, and provide ASIC with broader range of tools to regulate the activities of foreign providers.
Capital Adequacy
Sri Lanka State Banks Undercapitalised for Basel – Fitch
05/06/2018
Large state banks short an estimated $120mn in capital, of which state banks account for 72%; government infusion may be needed to meet Basel III 2019 requirements.
Anti-Money Laundering
Commonwealth Bank Agrees to A$700m Penalty for AML Breaches
04/06/2018
AUSTRAC investigations revealed inadequate AML/CTF risk assessment and controls, leading to failures in monitoring transactions, submitting transaction reports, detecting money laundering.
Structural Regulation
Malaysia Scraps GST on Banking Products
03/06/2018
Effective 1 June, Malaysian banks will impose a zero percent GST on all banking products and services, previously subject to 6% GST.
Trading & Investment
S. Korea Announces Measures to Prevent Stock Trade Errors
29/05/2018
Measures to prevent repeat of Samsung Securities dividend payout error include new real-time monitoring system, tighter controls at securities firms, tougher penalties.
Credit Risk
China Allows Non-banks to Sell Bad Debt Overseas
29/05/2018
SAFE also simplified the process for transferring NPLs to foreign investors for non-banks; previously only banks were allowed to sell bad debt to foreign investors.
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