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
Securities / Derivatives
CSRC Probes Hedge Funds, Brokers Over Quant Strategies – Report
25/09/2023
The CSRC is seeking information on the trading strategies and short-selling activities of quant funds, and their impact on the stock market.
Market Infrastructure
HKMA Designates New Market Makers for Southbound Bond Connect
25/09/2023
The new designations bring the total number of designated market makers for Southbound Bond Connect trading from 13 to 22.
Enforcement
US SEC Fines Citadel Securities for Violating Short-Selling Rules
24/09/2023
Citadel agreed to pay $7mn to settle charges that it incorrectly marked short sale orders as long sales, and vice versa, over a five year period.
Capital / Liquidity
MAS Announces Decision to Increase Deposit Insurance Limit
24/09/2023
MAS will increase the maximum deposit insurance coverage from the current S$75,000 to S$100,000, starting from 1 April 2024.
Enforcement
SEC Fines Goldman for Submitting Inaccurate Securities Trading Data
24/09/2023
Goldman Sachs has agreed to USD 6 million for submitting deficient submissions that included missing or inaccurate trade data for at least 163 million transactions.
Enforcement
FSS Korea Issues Warning Against Fisheries Cooperatives Federation
24/09/2023
The FSS management cautions and improvement requests to the National Federation of Fisheries Cooperatives for a failed overseas investment.
Market Infrastructure
OCBC Joins LCH SwapClear and HKEX’s OTC Clear
24/09/2023
Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.
Enforcement
Australia Court Fines NAB $1.3m for Overcharging Customers
23/09/2023
The penalty was the maximum allowed by legislation that existed at the time of the contravening conduct. The court said a penalty “several times” higher would have been more appropriate.
ASIC Postpones Financial Adviser Registration to 2024
22/09/2023
The financial adviser registration requirement was initially due to commence in January 2023. This is now the third extension.
Crypto / Digital Assets
SFC Confirms Crypto Firm JPEX Never Approached it About Licensing
22/09/2023
JPEX breached the SFO and AMLO by publishing confidential correspondence with the SFC. Three more arrests have been made.
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