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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    Enforcement

    MPFA Fines HSBC for Non-compliant Referral Programme

    09/07/2024

    HSBC recruited and offered incentives to unregistered persons to refer corporate clients to the bank for MPF business.

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    Australia Introduces New Disclosure Rule for Public Companies

    09/07/2024

    All companies open to investment by the public must disclose all their subsidiaries, regardless of size or materiality.

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    Australia Tables Legislation to Adopt Global Minimum Tax

    09/07/2024

    The legislation will set a global and domestic minimum tax rate for multinational enterprise groups including banks.

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    ESG / Sustainability

    ACCC Consults on Guidance for Sustainability Collaborations

    08/07/2024

    The guide is intended to assist businesses considering working together to achieve positive environmental outcomes without breaching Australian competition law.

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    Market Infrastructure

    Senate Inquiry Recommends Complete Overhaul of ASIC

    08/07/2024

    Senator Andrew Bragg said too many Australians have been hurt by ASIC’s “persistent failure” to enforce the law and win prosecutions.

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    Fintech / Regtech

    HKMA, IA Launch Open API Framework Linkage

    08/07/2024

    The new linkage seeks to enhance the mutual adoption of APIs for use cases across the banking and insurance sectors.

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    AML / KYC

    HKMA Fines DBS for Historical AML Deficiencies

    08/07/2024

    HKMA investigation found deficiencies in the bank’s systems and controls for compliance with the AMLO.

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    AML / KYC

    Australia: ATO Joins Anti-Scam Intelligence Sharing Platform

    08/07/2024

    The ATO has become the first government agency to join the ‘AFCX Anti‑Scam Intelligence Loop’.

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    HKMA Identifies Compliance Issues at Banks’ Trust Businesses

    08/07/2024

    No instances of non-compliance were found in self-assessments, though there were 12 instances of “partial compliance”.

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    Market Infrastructure

    CDR Negatively Impacting Competition, says Australia Banking Body

    05/07/2024

    ABA says the CDR regime is not delivering for customers or enhancing competition in Australia’s banking industry.

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