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.
Crypto / Digital Assets
NYDFS Issues Guidance on Crypto-Related Activities for Banks
19/12/2022
New York regulated banks, as well as branches and agencies of foreign banks licensed by the NYDFS, need prior approval to engage in virtual currency-related activities.
Market Infrastructure
ASX Commits to Providing Certainty on Stability of CHESS
16/12/2022
ASIC and the RBA asked ASX to issue a special audited report detailing arrangements to ensure the stability, security and resilience of the existing CHESS system.
AML / KYC
Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes
15/12/2022
Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.
Enforcement
UK FCA Fines Metro Bank for Incorrect RWA Disclosure
14/12/2022
The bank published incorrect information concerning its risk-weighted assets and did not disclose the error to investors despite knowing it was wrong.
Fintech / Regtech
FSC Korea Unveils New Support Measures for Fintech Startups
14/12/2022
The measures include new funding for innovative firms, regulatory relaxations, and improvements to the sandbox programme.
ASIC Directs Super Funds to Improve Complaints Handling
14/12/2022
Superannuation trustees are not responding to complaints in a timely manner and are failing to notify consumers of their right to approach AFCA.
AML / KYC
FTX Founder Arrested, Charged by SEC, SDNY, CFTC
14/12/2022
US authorities have charged Sam Bankman-Fried for defrauding customers, investors, lenders, and campaign finance violations.
Fintech / Regtech
India to Standardise Icons Used in Payment Apps to Curb Fraud
08/12/2022
Project Pratima aims to introduce a uniform set of icons for basic payment actions and processes, curb fraud, and boost digital payments adoption.
Crypto / Digital Assets
Europol Issues Recommendations on Crypto-related Money Laundering
08/12/2022
Europol recommends close cooperation between enforcement bodies and crypto providers to curb associated crime and money laundering.
AML / KYC
AUSTRAC Launches Federal Court Proceedings Against SkyCity
08/12/2022
The proceedings against SkyCity are the third AUSTRAC has brought against casino operators, after similar cases were launched against Star and Crown casino entities.
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