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
Hong Kong Legislative Council Passes AML/CTF Amendment Bill
08/12/2022
New licensing regime for VASPs will start on 1 June 2023. New registration regime for precious metals dealers will start on 1 April 2023.
AML / KYC
Wolfsberg Group Endorses Use of AI/ML for Financial Crime Compliance
05/12/2022
New report sets out five principles that support the ethical and responsible use of artificial intelligence and machine learning in financial crime compliance.
Sanctions
US, Korea, Japan Sanction DPRK Over Missile Tests
05/12/2022
The sanctions were imposed in response to recent ballistic missile tests, including one that had enough range to reach the US mainland.
AML / KYC
FATF Calls on AML Practitioners to Target Opioids Trafficking
02/12/2022
New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an “important source of information” for FIUs.
Crypto / Digital Assets
Singapore Deputy PM Defends Temasek Over FTX Loss
01/12/2022
The FTX loss is disappointing, but it does not imply that the governance system is not working, deputy PM Lawrence Wong said.
Fintech / Regtech
EU’s Digital Operational Resilience Act Wins Final Approval
01/12/2022
All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.
AML / KYC
AUSTRAC Commences Court Proceedings Against Star Casinos
01/12/2022
Star Sydney and Star Queensland breached one section of the law 1,189 and 325 times, respectively. Both are accused of “an innumerable number” of other breaches.
Capital / Liquidity
BOE Confirms Planned Approach to Basel III Implementation
30/11/2022
The BOE says its approach is consistent with the “vast majority” of major financial jurisdictions, with “appropriate but limited” adjustments for the UK market.
Capital / Liquidity
MAS Plans to Adopt BCBS Risk Weights for Cryptoassets
30/11/2022
MAS will require Singapore banks to apply a 1250% risk weight for exposures to Bitcoin and Ether, pending the finalisation of the BCBS framework.
Enforcement
Australia Passes Bill Raising Penalties for Privacy Violations
29/11/2022
The legislation also amends the extraterritorial jurisdiction of the Privacy Act to bring into scope foreign firms conducting business in Australia.
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