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
Supervision & Enforcement
China Fines Crypto Miner Bitmain for Tax Violations
12/04/2023
Bitmain’s Beijing unit failed to withhold and pay personal income tax on employees’ salaries and other benefits totalling CNY 16.6 million.
Cloud & Infrastructure
Philippine Banks Undergo Major Change in Regulatory Reporting
11/04/2023
BSP deputy governor Chuchi Fonacier says 18 reporting templates and Excel files totalling 300-plus schedules are being reduced to a single XML file.
Custody & Infrastructure
New FTX Report Reveals Extent of Control Failures
11/04/2023
FTX stored private keys in plain text documents without encryption on an FTX group server that was accessible by staff.
Cryptocurrency
ECB Official Says MiCA Still Needs Further Strengthening
10/04/2023
Pre-collapsed FTX and today’s Binance would not meet the threshold for classification as ‘significant’ CASPs. Even if they did, stricter requirements wouldn’t apply.
Trading & Investment
Final Rules for Swap Connect Agreed by Authorities – Report
10/04/2023
Swap Connect could start trading by June if not sooner. Mainland treasury bond futures may also become accessible from Hong Kong.
PEPs & Sanctions
US Authorities Fine Microsoft for Export Control, Sanctions Breaches
09/04/2023
Microsoft’s Russia-based employees ordered software licenses in the names of parties not on the Entity List, to be used by designated persons.
Anti-Money Laundering
US Treasury Publishes First Ever DeFi Risk Assessment
07/04/2023
Treasury calls on the private sector to use the risk assessment to inform their risk mitigation strategies, and offers recommendations on government action.
Structural Regulation
CSRC Proposes to Update Rules for Securities Firms
06/04/2023
The rules focus on risk prevention and internal governance, and now also cover underwriting, sponsorship, market making and OTC business activities.
Emerging Prudential Risks
Bank Capital Requirements Should Account for Geopolitical Risks: IMF
06/04/2023
The IMF suggests geopolitical risks should feed into stress testing, scenario analysis and requirements for banks to hold capital and liquidity buffers.
Cryptocurrency
IOSCO Pledges to Deliver Sustainable Finance & Crypto Work in 2023
06/04/2023
Under its new two-year work programme, IOSCO will issue a consultation on crypto asset regulation in H1 2023, and on DeFi regulation in Q3.
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