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
Crypto / Digital Assets
China to Start Using CBDC in Cross-Border Trade
28/04/2023
Xuzhou will use the e-CNY for payment of Belt and Road trade costs; Changshu City will use it to pay civil servants.
AML / KYC
BSP Issues Guidance on Effective Transaction Monitoring
27/04/2023
The guidance calls on regulated financial institutions to bolster their TM systems, highlighting the importance of board of senior management involvement.
Capital / Liquidity
RBNZ Proposes to Ease Mortgage Lending Restrictions
27/04/2023
The RBNZ proposes to ease the existing LVR restrictions by 1 June as it now sees reduced risks to financial stability.
ESG / Sustainability
ECB Urges Banks to Improve Climate Risk Disclosures
25/04/2023
The ECB is concerned that banks are not prepared for new climate and environmental risk disclosure standards that take effect mid-year.
Enforcement
US Fines Seagate Over Hard Drive Shipments to Huawei
24/04/2023
Seagate was fined $300mn, the largest standalone administrative penalty in BIS history, for shipping hard drives to Huawei in violation of US export controls.
AML / KYC
Taiwan Targets Misleading Online Financial Advertisements
23/04/2023
Meta is said to be addressing scams “more efficiently” than Google, after Taiwan regulators asked both to remove misleading financial ads from their platforms.
Crypto / Digital Assets
US SEC Issues Guidance on Providing Advice to Retail Investors
21/04/2023
Finance professionals should apply “heightened scrutiny” when recommending or advising on complex and risky products, such as crypto asset securities.
ESG / Sustainability
MAS Launches Finance for Net Zero Action Plan
21/04/2023
The action plan includes a code of conduct for ESG ratings and data providers, grant schemes for transition bonds and loans, and ISSB-aligned disclosures.
ESG / Sustainability
Malaysia SC Invites Firms to Review and Improve SRI Taxonomy
21/04/2023
Interested parties are asked to participate in the ongoing development of the SRI Taxonomy and propose ways to align it with the ASEAN Taxonomy.
Crypto / Digital Assets
HK CBDC May Be Developed on Permissioned Blockchain
21/04/2023
The HKMA has asked banks to “review and research and then propose” an implementation approach for the e-HKD.
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