Posts By Sanday Chongo Kabange, Regulation Asia
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414FSC Korea Says LIBOR Transition Progressing Smoothly
Sanday Chongo Kabange, Regulation Asia December 31, 2021The CD rate has been actively replaced with Korea's new RFR, known as KOFR, since its introduction on 25 November, the FSC said.
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1.1KBank Indonesia Launches New Fast Payments System, BI-Fast
Sanday Chongo Kabange, Regulation Asia December 24, 2021BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.
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647Australian Court Fines Mayfair Companies for Misleading Advertising
Sanday Chongo Kabange, Regulation Asia December 24, 2021Four Mayfair companies were fined a combined A$30mn for “deliberately" misleading investors into buying highly speculative and risky investment products.
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612US Bourses Explore IPOs from SE Asia Amid Chinese Withdrawal
Sanday Chongo Kabange, Regulation Asia December 24, 2021Continued regulatory scrutiny from Chinese and US regulators has reportedly compelled US exchanges to explore IPO hopefuls from India, Indonesia, Vietnam and Malaysia.
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453Taiwan Proposes New Framework for Authorising Internet-only Insurers
Sanday Chongo Kabange, Regulation Asia December 24, 2021Sponsors of internet-only insurers can include financial institutions and fintech companies. Applications are expected to open in August 2022.
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ASIC Urges Listed Entities to Disclose Business Risk Properly
Sanday Chongo Kabange, Regulation Asia December 23, 2021Listed company directors and auditors should focus on impairment of assets, particularly as some businesses may be adversely affected in a post-Covid environment.
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333SEC Issues New Disclosure Guidance for US-Listed Chinese Firms
Sanday Chongo Kabange, Regulation Asia December 23, 2021The guidance focuses on the need for clear and prominent disclosure regarding the use of VIE and SPAC structures, and the associated legal and operational risks.
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482EBA Issues New Guidelines, Technical Standards for AML/CFT
Sanday Chongo Kabange, Regulation Asia December 23, 2021The guidelines cover supervisory cooperation and risk-based supervision of banks. New draft RTS are published for a new EU-wide database known as EuReCa.
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333CSRC to Bar Mainlanders from Using Northbound Stock Connect
Sanday Chongo Kabange, Regulation Asia December 23, 2021A CSRC rule amendment will specify that mainland investors are not to be included as qualified investors in the northbound legs of Stock Connect.
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448PBOC to Connect Digital Yuan to HK Faster Payment System
Sanday Chongo Kabange, Regulation Asia December 22, 2021The second phase of the ongoing CBDC trails between the Mainland and Hong Kong will involve connecting e-CNY wallets to Hong Kong’s FPS.
