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
RBNZ Publishes “Proportionality Framework” for New DTA Regime
15/03/2024
The Proportionality Framework sets out how the RBNZ will categorise deposit takers for the purposes of developing standards.
Fintech / Regtech
HKMA Launches Second Phase of e-HKD Testing
15/03/2024
Phase 2 will focus on programmability, tokenisation and atomic settlement, leveraging the ‘Project Ensemble’ sandbox.
Market Infrastructure
ASX Consults on Two-Stage Approach for CHESS Delivery
15/03/2024
ASX is targeting Q1 2026 for implementation of the first stage of the new CHESS system, and 2028 or 2029 for the second stage.
Crypto / Digital Assets
SFC Issues Warning Against Crypto Products from Bybit
15/03/2024
The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.
Enforcement
APRA Removes NAB’s Capital Add-On for Operational Risk
14/03/2024
APRA has removed the A$500mn capital add-on it imposed on NAB in 2019 to reflect higher operational risk identified in its risk governance self-assessment.
AML / KYC
HKMA to Establish Regulatory Sandbox for Stablecoin Issuers
13/03/2024
The HKMA will use the sandbox to communicate supervisory expectations and guidance on the issuance of fiat-referenced stablecoins in Hong Kong.
Enforcement
Hong Kong ICAC Charges Former Senior Official of Insurance Authority
13/03/2024
The former IA executive director threatened Prudential with the use of supervisory powers if it did not hire her daughter-in-law and give her a bigger salary package.
Fintech / Regtech
BSP Studying Impact of Generative AI on Banking Industry
12/03/2024
The BSP is seeking to introduce ‘guardrails’ to mitigate potential risks associated with the use of Gen AI in the banking industry.
Australia Drafts Legislation to Bring BNPL Under Credit Act
12/03/2024
BNPL providers will be required to obtain a credit licence, comply with requirements under the Credit Act, and make sure they are lending responsibly.
Market Infrastructure
Australia to Introduce “Financial Sector Regulatory Grid”
12/03/2024
The new regulatory grid system will enable ASIC, APRA, the ACCC, the RBA and the ATO to better coordinate financial sector regulation.
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