Manesh Samtani
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
Articles by Manesh Samtani
AML / KYC
Laos AML/CFT Regime Has “Significant Deficiencies” – FATF
30/08/2023
Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.
AML / KYC
Singapore AML Probe Expands to Precious Metals, Property Agents
29/08/2023
MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.
Crypto / Digital Assets
Korean Banks Impose New Requirements on Crypto Exchanges
29/08/2023
Korean crypto exchange will need to set aside reserves worth $2.3mn, or 30 percent of their daily average deposits, whichever is greater.
Enforcement
US SEC Settles First NFT-related Enforcement Action
29/08/2023
The SEC says NFTs offered and sold to investors by Impact Theory were investment contracts and therefore unregistered securities.
Market Infrastructure
China Moves Ahead With Capital Market Support Measures
28/08/2023
The measures include a lower minimum margin ratio, a stamp duty cut, and curbs on stock sales and new IPOs.
Capital / Liquidity
BNM Issues Draft Policy on Liquidity Risk Management
28/08/2023
The policy requires banks to apply early warning indicators and liquidity stress tests to identify emerging liquidity risks and vulnerabilities.
MAS Enhances Safeguards for Vulnerable Advice Customers
28/08/2023
Financial advisory firms have to identify vulnerable customers, conduct pretransaction checks, and ask a “trusted individual” to be present during the sales and advisory process.
Crypto / Digital Assets
US Authorities Propose New Tax Reporting Rules for Crypto
27/08/2023
Crypto firms, NFT platforms, and wallet providers would have to report sales and exchanges of digital assets to the IRS.
AML / KYC
US Sanctions Tornado Cash Co-founder, Arrests Another
24/08/2023
Russian national Roman Semenov was added to OFAC’s sanctions list. Another co-founder, Roman Storm, was arrested on Wednesday.
Crypto / Digital Assets
BIS Paper Warns of Heightened Risks from Crypto in EMEs
23/08/2023
Certain “risk catalysts” in emerging markets can strengthen the transmission channels through which risks from crypto markets can affect financial stability.
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