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
Anti-Money Laundering
Supervisory Flaws Hurting Remittance Providers – FSB
19/03/2018
Report says AML/CTF and other supervisory shortfalls limit remittance providers’ access to banking services; makes 19 recommendations to address barriers.
KYC & CDD
FSB Reports Progress on Correspondent Banking Decline
19/03/2018
Report discusses strengthening due diligence tools to support correspondent banking relationships and improved monitoring.
Cryptocurrency
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Capital Adequacy
Malaysia Banks Can Withstand Severe Shocks – BNM
16/03/2018
The central bank’s Financial Stability Committee says Malaysian banks have a “strong capacity” to withstand financial shocks comparable to past crises.
Fraud, Scams & Cybercrime
India Bans Bank Issuance of Key Trade Finance Instrument
16/03/2018
An estimated $10bn in LoUs will need to be wound down within three months, forcing banks to rebalance assets and liabilities.
Conduct, Culture & Accountability
CLSA Fined $1.15mn for Internal Control Failures – SFC
15/03/2018
The firm failed to put in place controls to prevent co-mingling of agency execution and client facilitation services.
Anti-Money Laundering
Japan to Push G20 for Global AML Rules for Cryptcurrency
14/03/2018
Japan to urge G20 leaders to close money laundering loopholes that exist due to weak regulation in some jurisdictions, without stifling innovation.
CBDCs
BIS, CPMI Report Outlines Dangers of Central Bank Digital Currencies
14/03/2018
Central bank-issued digital currencies can enhance payments, settlement, efficiency; but financial stability implications warrant consideration.
Cryptocurrency
Thailand to Legalise Cryptocurrency by Royal Decree
14/03/2018
Cryptocurrencies will be classified as assets and regulated by SEC; capital gains from trading to be taxed at 10 percent.
Emerging Prudential Risks
China Banking, Insurance Regulators Set to Merge
14/03/2018
The merger will eliminate inefficiencies and regulatory overlap; rule making powers and prudential supervision responsibilities will transfer to China’s central bank.
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