Sanday Chongo Kabange
Sanday Chongo Kabange is an experienced multimedia journalist and a contributor to Regulation Asia. He focuses on compliance, regulatory and legal issues for financial services.
Articles by Sanday Chongo Kabange
Capital / Liquidity
NZ Banks Have ‘Relatively Little’ Interest Rate Risk: RBNZ
02/05/2023
RBNZ says New Zealand banks are required to hold fewer bond assets than banks in other developed economies and account for them at fair market value.
Enforcement
Philippine SEC Issues Implementing Rules for Consumer Protection Act
01/05/2023
The implementing rules set out the enforcement actions the SEC may take as well as measures to protect financial consumers.
Capital / Liquidity
US Govt Accountability Office Shines Light on Causes of Bank Failures
30/04/2023
GAO says regulators “did not escalate supervisory actions in time” to prevent the failures of Silicon Valley Bank and Signature Bank.
Crypto / Digital Assets
China to Start Using CBDC in Cross-Border Trade
28/04/2023
Xuzhou will use the e-CNY for payment of Belt and Road trade costs; Changshu City will use it to pay civil servants.
AML / KYC
BSP Issues Guidance on Effective Transaction Monitoring
27/04/2023
The guidance calls on regulated financial institutions to bolster their TM systems, highlighting the importance of board of senior management involvement.
Capital / Liquidity
RBNZ Proposes to Ease Mortgage Lending Restrictions
27/04/2023
The RBNZ proposes to ease the existing LVR restrictions by 1 June as it now sees reduced risks to financial stability.
ESG / Sustainability
ECB Urges Banks to Improve Climate Risk Disclosures
25/04/2023
The ECB is concerned that banks are not prepared for new climate and environmental risk disclosure standards that take effect mid-year.
Enforcement
US Fines Seagate Over Hard Drive Shipments to Huawei
24/04/2023
Seagate was fined $300mn, the largest standalone administrative penalty in BIS history, for shipping hard drives to Huawei in violation of US export controls.
AML / KYC
Taiwan Targets Misleading Online Financial Advertisements
23/04/2023
Meta is said to be addressing scams “more efficiently” than Google, after Taiwan regulators asked both to remove misleading financial ads from their platforms.
Crypto / Digital Assets
US SEC Issues Guidance on Providing Advice to Retail Investors
21/04/2023
Finance professionals should apply “heightened scrutiny” when recommending or advising on complex and risky products, such as crypto asset securities.
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