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. [email protected]
Articles by Manesh Samtani
Enforcement
China Fines PwC $62m, Suspends Firm for Six Months
14/09/2024
PwC’s China unit helped Evergrande’s mainland flagship unit, Hengda Real Estate Group, to overstate its revenue by CNY 564 billion from 2018 to 2020.
AML / KYC
OFAC Sanctions Cambodian Tycoon for Scam Centre Operations
13/09/2024
Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.
Capital / Liquidity
UK Publishes 2nd Policy Statement on Basel III Implementation
13/09/2024
The new rules will come into force on 1 January 2026, which is six months later than was stated in the December proposal.
Market Infrastructure
Australia Introduces First Tranche of Privacy Reforms to Parliament
12/09/2024
The proposed reforms will strengthen the OAIC’s enforcement toolkit and provide the Courts new functions and capabilities to address privacy breaches.
AML / KYC
GCFFC Calls for Better Access to Global Beneficial Ownership Data
12/09/2024
In a new report, the GCFFC outlines key considerations for building technological systems to standardise the collection and publication of BO data across jurisdictions.
AML / KYC
UK FCA to Update Guidance on Addressing Suspicious Payments
12/09/2024
The updated guidance aims to support a new policy that will enable PSPs to delay payments when fraud or dishonesty is suspected.
ESG / Sustainability
Australian Parliament Passes Climate Disclosures Legislation
11/09/2024
Climate-related disclosures will be mandatory for all public companies and large proprietary companies starting in January 2025.
Capital / Liquidity
Fed Official Outlines Revised ‘Basel Endgame’ Plans
11/09/2024
Capital levels for G-SIBs would be raised by 9 percent, substantially less than the 19 percent in last July’s proposal.
Securities / Derivatives
SFC Sets Rules for Distributing Research on Stock Connect ETFs
10/09/2024
Hong Kong intermediaries are allowed to distribute research reports of eligible Mainland ETFs that are available in Hong Kong via Stock Connect.
Capital / Liquidity
FSS Korea Launches Operational Risk Management Task Force
10/09/2024
The taskforce aims to develop operational risk management standards, guidelines, and implementation plans for the banking, insurance, cards, and IT sectors.
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