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
Crypto / Digital Assets
BCBS Paper Warns of Risks in Permissionless DLT Systems
30/08/2024
New working paper describes the risks associated with permissionless DLT, highlighting the need for banks to adopt robust risk management strategies.
AML / KYC
FinCEN Finalises AML Rules for Investment Advisers, Real Estate
30/08/2024
Based on feedback to the February proposals, the final rules walk back certain measures to reduce potential burdens on businesses.
Market Infrastructure
ASIC Revises Trade Reporting Rules to Adopt February Proposals
29/08/2024
ASIC will adopt the ‘nexus’ test to determine the scope of foreign entity reporting and remove alternative reporting.
AML / KYC
Swiss Court Sentences Two to Jail for Defrauding 1MDB
29/08/2024
Two executives of an oil exploration company known as PetroSaudi were sentenced for defrauding 1MDB out of more than $1.8bn.
Big Picture
HKMA Highlights Power of AI to Mitigate Greenwashing Risk
28/08/2024
HKMA published a bulletin offering guidance to FIs on the use of AI-powered ESG tools to help manage climate greenwashing risk.
Securities / Derivatives
HKEX Appoints Capital Markets Veteran to Drive IPO Activity
28/08/2024
Former Nomura managing director Johnson Chui will take up a new role at HKEX as Head of Global Issuer Services.
Market Infrastructure
China Enhances Domestic Market Access for Foreign Investors
27/08/2024
New rules have taken effect that enable foreign institutional investors to become direct members of CFETS.
AML / KYC
Japan Strengthens Measures to Prevent Fraudulent Use of Bank Accounts
26/08/2024
The FSA and National Police Agency have asked FIs to implement enhanced measures to prevent the fraudulent use of bank accounts.
AML / KYC
Philippine Police Arrest 99 in Scam Centre Dawn Raid
26/08/2024
The scam centre was identified by an informant, prompting an undercover officer to infiltrate the operation to collect evidence for the search warrant.
Crypto / Digital Assets
Korean Regulators Inspect Monitoring Systems for Crypto Market
23/08/2024
Inspections found that Korea’s big-five crypto exchanges have established dedicated teams and systems to detect and respond to abnormal trading activities.
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