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
Enforcement
SEC, CFTC Penalise Firms $555m for Use of Unapproved Messaging Apps
09/08/2023
The use of “off-channel” communications was “pervasive and longstanding”. Wells Fargo was penalised $200mn, while BNP Paribas and SocGen were each fined $110mn.
AML / KYC
OCBC Integrates Anti-Malware Feature in Mobile Banking App
08/08/2023
OCBC’s digital banking app will now only work on mobile devices if their mobile apps are all downloaded from official app stores.
Enforcement
SFC to Gain Powers to Tackle Insider Dealing with Cross-Border Element
08/08/2023
The SFC will be better able to address insider dealing perpetrated in Hong Kong involving overseas-listed securities, and insider dealing perpetrated overseas involving HK-listed securities.
Crypto / Digital Assets
SFC Warns of ‘Improper Practices’ by Unlicensed Crypto Exchanges
08/08/2023
Some crypto exchanges have misled investors by falsely claiming they have applied for licences when in fact they have not.
Enforcement
Australia Announces ‘Crackdown’ on Tax Adviser Misconduct
08/08/2023
The maximum penalties for tax advisers who promote tax exploitation schemes will increase 100-fold to more than A$780mn.
Fintech / Regtech
EBA Issues Report on the Use of Machine Learning for IRB Models
07/08/2023
The report proposes a set of principle-based recommendations to ensure the appropriate use of ML techniques by institutions in the context of IRB models.
ACCC Rejects ANZ-Suncorp Merger Deal Over Competition Concerns
07/08/2023
The ACCC said a merger between Bendigo and Adelaide Bank and Suncorp would be a better outcome.
Crypto / Digital Assets
Industry Bodies Call on IOSCO to Tackle Conflicts of Interest in Crypto
06/08/2023
The WFE, GDF, IIF and FIA each address conflicts of interest in the crypto sector in their responses to IOSCO’s consultation.
Crypto / Digital Assets
HashKey, OSL Win Approvals Needed to Serve HK Retail Crypto Investors
04/08/2023
As existing licence holders, both firms had to undergo only a simplified process to obtain the required approvals.
Capital / Liquidity
BIS Paper Draws Lessons from HKMA Approach to NBFI Monitoring
03/08/2023
The HKMA framework highlights how multiple data sources can be used to extract valuable information and signals for timely NBFI monitoring.
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