Posts By Sanday Chongo Kabange, Regulation Asia
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17Australia: BT, Asgard Fined for Charging Fees for No Service
Sanday Chongo Kabange, Regulation Asia July 30, 2021Westpac will pay A$3mn in civil penalties for BT Funds Management and Asgard Capital Management in proceedings commenced by ASIC in August 2020.
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28NZ FMA Issues Cyber Resilience Guidance for Financial Advisers
Sanday Chongo Kabange, Regulation Asia July 30, 2021Under New Zealand's new financial advice regime, many individuals and entities have not previously been subject to compliance obligations for cybersecurity.
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21CSRC Fines ByteDance Employee for Insider Trading
Sanday Chongo Kabange, Regulation Asia July 30, 2021The CSRC fined the ByteDance employee nearly nine times the profit he made from trading shares on insider information.
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100Independent Report Finds Risk Control Failures at Credit Suisse
Sanday Chongo Kabange, Regulation Asia July 30, 2021The report indicates that the risks were known, but responsible parties in the first and second lines simply failed to act.
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62Australia: Industry Body Seeks Greater Clarity on Crypto Regulation
Sanday Chongo Kabange, Regulation Asia July 30, 2021Blockchain Australia has asked for safe harbour to be provided to ensure regulatory action will not be taken against crypto businesses where the law is unclear.
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69China Will Still Allow IPOs in the US, CSRC Tells Brokers
Sanday Chongo Kabange, Regulation Asia July 30, 2021Regulators will continue to allow VIE structures, recognising that they serve as a vital way for companies to attract foreign capital.
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37Korea FSC Expands Open Banking Services to Fintechs
Sanday Chongo Kabange, Regulation Asia July 30, 2021Users will be able to access information about their prepaid deposit accounts from mobile applications of any FI offering open banking.
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34Hainan Opens Market Access with Shorter Negative List
Sanday Chongo Kabange, Regulation Asia July 29, 2021Foreign businesses and individuals are required comply with just 70 special management measures in 11 industries.
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48CSRC Approves China Telecom Shanghai IPO Following US Ban
Sanday Chongo Kabange, Regulation Asia July 29, 2021China's flow of IPOs to the US is expected to ease, with companies instead choosing to list in Shanghai, Shenzhen, or Hong Kong.
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NZ FMA Censures FoxPlan Over Unpermitted Financial Advice
Sanday Chongo Kabange, Regulation Asia July 29, 2021FoxPlan representatives misrepresented to clients that they were an authorised financial advisers or financial planners when they were not.
