Sanday Chongo Kabange

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    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

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    AML / KYC

    Australia Introduces AML/CTF Reform Bill to Parliament

    11/09/2024

    The amendment bill will bring tranche 2 entities into scope and modernise the regulation of virtual assets and payments tech.

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    ESG / Sustainability

    Australia Releases Interim Report on Taxonomy Development

    11/09/2024

    The report sets out the progress made towards the development of Australia’s sustainable finance taxonomy.

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    Fintech / Regtech

    New Zealand FIs Taking ‘Cautious Approach’ to AI Adoption – FMA

    10/09/2024

    The FMA conducted research to better understand how regulated entities are exploring the adoption of AI, to help shape an appropriate regulatory framework.

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    Enforcement

    Australia’s New Anti-Foreign Bribery Law Comes into Force

    10/09/2024

    Under the new law, companies will be held directly liable for failure to prevent foreign bribery by employees, external contractors, agents and subsidiaries.

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    AML / KYC

    HKMA Issues Guidance on Using AI to Enhance AML Monitoring

    10/09/2024

    Banks will have to assess the feasibility of adopting AI in their ML/TF monitoring systems and then formulate and submit an implementation plan to HKMA by end March 2025.

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    Enforcement

    HSBC Responsible Officer Disqualified Over MPF Referral Programme

    09/09/2024

    The responsible officer was disqualified for 30 months for his role in recruiting unregistered personnel to refer MPF corporate clients to HSBC.

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    Enforcement

    HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct

    09/09/2024

    The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.

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    BSP Authorises Maybank to Launch Islamic Banking Operations

    05/09/2024

    Maybank is just the second bank authorised to launch Islamic banking operations in the Philippines, after CARD Bank was authorised in June 2023.

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    Fintech / Regtech

    New Zealand Consults on CDR for Banking, Electricity Sectors

    04/09/2024

    The proposal would require ANZ, BNZ, ASB and Westpac to implement open banking from 1 Dec 2025 and Kiwibank from 1 Dec 2026.

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    Securities / Derivatives

    SFC Issues Licensing Guidance for Visiting and Returning Professionals

    03/09/2024

    The SFC provides guidance on licensing options for professionals visiting and returning to Hong Kong to conduct regulated activities.

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