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
Fintech / Regtech
Australia Approves Final Operational Enhancements To CDR Rules
22/07/2023
Assistant treasurer Stephen Jones says the operational enhancements to the CDR rules will keep small business and customer data safer.
Enforcement
NZ Court Imposes Highest Ever Penalties for Market Manipulation
21/07/2023
Two former senior executives of Oceania Natural Ltd were ordered to pay a combined N$2.09mn for market manipulation.
Market Infrastructure
FSC Korea Grants First Preliminary Approval to ATS Platform
21/07/2023
Nextrade, owned by 34 companies, will have 18 months to establish its systems and apply for final authorisation to operate its ATS platform.
AML / KYC
KoFIU Revises Rules Setting Out “Core Responsibilities” of AML Officers
21/07/2023
The role of CEOs has been made more specific, compliance officers will have a supervisory role over employees, MLROs will need at least two years of AML experience.
APRA, ASIC Issue Draft Rules for New Financial Accountability Regime
20/07/2023
APRA and ASIC are consulting on the proposed regulator rules, ADI key functions and transitional rules to support the implementation of the new FAR.
APRA, ASIC Calls on Super Funds to Improve Retirement Outcomes for Members
20/07/2023
APRA deputy chair Margaret Cole said there has been a lack of progress and insufficient urgency overall when it comes to implementation of the Retirement Income Covenant.
Market Infrastructure
Korea to Loosen Rules for FIs on Foreign Subsidiary Ownership
20/07/2023
The proposed reforms will enable Korean financial firms to more easily invest in and provide financial support to overseas subsidiaries.
Crypto / Digital Assets
ASIC Cancels FTX Australia’s AFS Licence
20/07/2023
FTX Australia may provide “limited financial services” related to termination of existing derivatives with clients until the end of 12 July 2024.
Enforcement
ASIC Issues First Stop Order on Life Insurance Products
20/07/2023
ASIC issued the interim stop order against Clearview Life to protect consumers from acquiring two income protection cover products that may not be consistent with their needs.
Korea Forms Taskforce to Draw Up Corporate Governance Guidelines for Banks
20/07/2023
The guidelines will cover CEO appointments, management succession procedures, and evaluation and supporting systems for independent directors.
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