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
Market Infrastructure
New Zealand Banks Must Address Risks from Sales-Linked Incentives – FMA
19/11/2018
The FMA expects banks to change sales-linked incentives, or explain how they will strengthen controls to address the risk of inappropriate sales.
AML / KYC
Taiwan’s Progress Impresses APG, Despite Some Shortcomings
19/11/2018
The APG was reportedly impressed by Taiwan’s performance during its third round of mutual evaluations, which concluded last week.
Market Infrastructure
FSB Issues Progress Report on Interest Rate Benchmark Reform
15/11/2018
The FSB notes progress to strengthen major IBORs and identify RFRs and other alternative reference rates, highlighting actions taken in Australia, Hong Kong and Singapore.
Market Infrastructure
SGX to Launch New T+2 Securities Settlement System from 10 December
14/11/2018
Among several other enhancements, moving from a T+3 to a T+2 settlement cycle will harmonise Singapore with stock markets in Australia, the EU, Hong Kong and the US.
Fintech / Regtech
MAS Issues Guidance on Responsible Use of AI, Data Analytics
13/11/2018
MAS managing director Ravi Menon announced the release of the Fairness, Ethics, Accountability & Transparency, or FEAT, Principles at the Singapore Fintech Festival.
Enforcement
Australian Court Orders A$3.3mn Penalty for Westpac BBSW Misconduct
11/11/2018
The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.
Market Infrastructure
ESMA Proposes Relief from EMIR Clearing Obligation in No-Deal Brexit
09/11/2018
In a no-deal Brexit, ESMA’s proposal would give EU firms 12 months to replace UK counterparties in legacy derivative contracts without triggering the EMIR clearing obligation.
Capital / Liquidity
APRA Proposes Higher Capital Requirements for Big Four Banks
08/11/2018
The banking regulator is seeking feedback on a proposal to increase the Total Capital requirement for Australia’s D-SIBs by 4-5% of risk-weighted assets by 2023.
Market Infrastructure
DTCC Enters Test Phase on DLT Project for Credit Derivatives
08/11/2018
The initiative to re-platform DTCC’s Trade Information Warehouse will “revolutionise the derivative industry’s credit market infrastructure”, says DTCC’s Chris Childs.
Big Picture
US-China Trade Dispute Poses Risk for Singapore Banks – Moody’s
07/11/2018
Singapore banks face greater asset risk in 2019, with both Moody’s and Fitch expecting loan growth to moderate amid worsening global conditions.
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