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. [email protected]
Articles by Manesh Samtani
AML / KYC
KoFIU Workplan for 2024 Has a Heavy Focus on Crypto
15/02/2024
KoFIU will also block “unqualified operators” from entering the market and “expel unqualified operators that have already entered the market”.
ESG / Sustainability
ISDA Develops Climate Scenarios for the Trading Book
14/02/2024
The climate scenarios were developed in the second half of 2023 during a pilot exercise with more than 30 banks.
Securities / Derivatives
US Regulators Expand Reporting Requirements for Private Funds
10/02/2024
The amendments will require detailed reporting on hedge funds’ concentrated positions, counterparty exposures and financing arrangements.
AML / KYC
HKMA Directs Banks to Ensure Their CDD is “Risk-based”
09/02/2024
Asking customers to provide details or proof of salary, employment or investments dating back years is “not consistent” with the risk-based approach.
Crypto / Digital Assets
Hong Kong Proposes Regulatory Framework for OTC Crypto Venues
09/02/2024
Firms providing “spot trade of any virtual assets for money” such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise.
Crypto / Digital Assets
Korea Prepares to Implement Virtual Asset User Protection Act
08/02/2024
The FSS released a roadmap to facilitate implementation of the new law, which will allow illegal activity to be punished with life.
Capital / Liquidity
HKMA Consults on Capital Treatment of Cryptoasset Exposures
07/02/2024
The proposals are based on the Basel standards, applying a 1,250% risk weight to so-called Group 2b cryptoassets.
Securities / Derivatives
CSRC Halts Securities Lending to Support Stock Market
07/02/2024
Brokerage firms are prohibited from engaging in securities refinancing business. State investor Central Huijin is expanding its ETFs purchases.
Capital / Liquidity
Hong Kong to Raise Bank Deposit Protection Limit in Q4
07/02/2024
Hong Kong’s deposit protection limit will be raised from HKD 500,000 to HKD 800,000, the first increase in 13 years.
Capital / Liquidity
China Issues Revised Loan Management Rules for Banks
07/02/2024
The new rules will come into effect on 1 July 2024, covering fixed asset loans, working capital loans and personal loans.
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