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.
Market Infrastructure
Hainan to Pilot Cross-Border Asset Management Trials
06/09/2021
Hainan’s also plans also launch QFLP and QDLP trials and enhanced currency convertibility to facilitate cross-border trade and investment.
Big Picture
WEF Paper Calls for Balanced Approach to Crypto Regulation
06/09/2021
Rather than banning cryptocurrencies, regulators are urged to collaborate to create regulatory clarity, close loopholes and mitigate regulatory arbitrage.
Market Infrastructure
APRA Issues Response on Bank Data Disclosure Regime
04/09/2021
APRA will disclose entity-level financial position and performance data on a quarterly basis in a new publication that will launch in Q1 2023.
ASIC Offer Guidance on New Complaints Handling Obligations
03/09/2021
ASIC says more work is needed from superannuation trustees to comply with new internal dispute resolution standards that become enforceable in October.
Securities / Derivatives
HKEX Identifies Compliance Deficiencies by Exchange Participants
03/09/2021
In a new bulletin, HKEX offers guidance on compliance with LOP reporting, client margin and block trade order execution requirements.
Fintech / Regtech
BIS, Four Central Banks Partner to Test Cross-Border CBDC Use
03/09/2021
The BIS Innovation Hub Singapore Centre will test CBDCs for international settlements with the RBA, MAS, BNM and SARB.
S. Korea Bans Payment Monopolies in App Stores
02/09/2021
South Korea is the first country to pass legislation forcing companies like Apple and Google to offer payment alternatives in their app stores.
Australian Industry Bodies to Standardise Advice Fee Disclosures
01/09/2021
The Financial Services Council and Financial Planning Association are developing an industry standard form to be used for advice fee disclosures.
Securities / Derivatives
Australia Issues Consultation to Finalise CCIV Regime
31/08/2021
The CCIV regime will offer a more flexible and tax-efficient corporate structure for fund managers. The regime is targeted to commence from 1 July 2022.
APRA Confirms Approach to New Credit Risk Reporting Standard
31/08/2021
APRA will proceed with implementation of the interim ARS 220.0 commencing 1 January 2022, despite feedback indicating its approach presented a burden for ADIs.
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