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
Australia to Amend Superannuation Tax Concession Policy
06/10/2023
The government is proposing “slightly less generous” tax concessions for individuals with a total superannuation balances above A$3mn.
AML / KYC
Pakistan Set to Establish Autonomous AML Authority – Report
06/10/2023
The authority will be tasked with tracking and monitoring money laundering and terrorist financing, while also serving as a policymaking body.
Fintech / Regtech
BNM to Finalise Licensing Framework for Digital Insurers in 2024
06/10/2023
Following consultation, BNM said it would refine and enhance several aspects of the framework for digital insurers and takaful operators.
Market Infrastructure
Japanese, Korean Regulators Agree to Strengthen Cooperation
06/10/2023
The FSA and FSC will cooperate on financial stability, climate change, and digitalisation of financial services. KFB and JBA also signed an MoU.
Fintech / Regtech
BIS to Advise Korea on Design & Implementation of CBDC Pilot
05/10/2023
South Korean regulators will start testing a wholesale CBDC with commercial banks this month, and a retail CBDC in Q4 of next year.
Crypto / Digital Assets
SFC, HKPF Form Dedicated Working Group on VATPs
05/10/2023
The working group will facilitate information sharing and collaboration on monitoring and investigations involving crypto platforms.
Capital / Liquidity
BNM Consults on Draft Rules for Islamic Collateralised Funding
04/10/2023
The draft policy document sets out the scope of transactions that can be conducted by a banking institution participating in the Islamic interbank money market.
AML / KYC
MAS Sheds Light on Use of AI in Supervisory Activities
04/10/2023
MAS is using AI tools to identify market collusion, manipulation, mis-selling by financial advisers, and networks of suspicious activity in Singapore’s financial system.
Capital / Liquidity
FDIC Proposes Enhanced Corporate Governance Guidelines for Banks
04/10/2023
The guidelines will be applicable to insured depository institutions with consolidated assets of USD 10 billion or more.
Enforcement
ASIC Sues Cigno, BSF Solutions Over Unlicensed Credit Offerings
04/10/2023
Cigno Australia and BSF Solutions used a credit model that subjected some consumers to fees of more than 600% of their total loan amount.
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