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 Further Amend Design & Distribution Obligations Law
15/08/2021
The planned changes will make the DDOs law more appropriate for the mortgage broking sector, and clarify that margin lending to corporates is exempt, among other changes.
CBIRC Launches Crackdown on Online Insurance Firms
15/08/2021
The CBIRC has ordered online insurers to conduct self-checks to identify violations, make immediate corrections and hold responsible personnel to account.
Enforcement
Australian Court Orders BOQ to Replace Unfair Contract Terms
15/08/2021
Bank of Queensland has been ordered to replace unfair contract terms in all standard form contracts with small business customers entered into from November 2016.
Crypto / Digital Assets
Poly Network Hackers Return Almost All of Stolen Funds
13/08/2021
Hackers have returned nearly all of the USD 613 million worth of digital tokens stolen on Tuesday, says Poly Network.
Market Infrastructure
ACCC Sees Price Transparency Improvements Among FX Remitters
13/08/2021
The ACCC says 12 of 15 prominent remitters are either adhering to best practice for price disclosure or need to make only minor improvements.
AML / KYC
ICAC Charges Company Director for Fraud, Money Laundering
13/08/2021
The director faces charges for defrauding BOCHK into making L/C payments to a supplier and then laundering the proceeds back to his own company.
Market Infrastructure
DTCC Urges Readiness for MAS Derivatives Reporting Requirements
12/08/2021
Finance companies, subsidiaries of banks in Singapore, insurers and CMS licence holders will come into scope for reporting from 1 October.
Securities / Derivatives
Australia Passes Amendments to Continuous Disclosure Laws
12/08/2021
Companies can provide forward-looking guidance to the market without the fear of class actions if forecasts are found to be inaccurate.
FMA Proposes Financial Reporting Exemptions for Insolvent Firms
11/08/2021
New Zealand’s FMA is considering introducing a class exemption for insolvent FMC reporting entities from certain financial reporting obligations.
Market Infrastructure
New Zealand Parliament Passes Reserve Bank Bill
11/08/2021
The bill will strengthen the RBNZ’s decision-making, governance, independence and accountability, and change its funding model.
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