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
Capital / Liquidity
APRA Finalises Revised Approach to Licensing New Banks
11/08/2021
The new approach increases clarity around capital requirements at different stages for new entrants to the banking sector.
AML / KYC
DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021
11/08/2021
In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.
Securities / Derivatives
SEBI Eases Lock-in Period for Promoters, Pre-IPO Investors
11/08/2021
The lock-in period for promoters will be eased from 36 to 18 months. For pre-IPO investors, the lock-in will be reduced from 12 to 6 months.
NAB Enters Agreement to Acquire Citigroup Consumer Business
10/08/2021
Subject to regulatory approvals from the Treasury, APRA and the ACCC, the acquisition is expected to be complete by March 2022.
AML / KYC
BSP to Finalise Members of Open Finance Body This Year
10/08/2021
The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.
Enforcement
Taiwan FSC to Raise Compensation for Automatic Dispute Settlement
10/08/2021
The FSC will raise the compensation ceilings under which financial companies have to automatically accept settlement decisions.
AML / KYC
Thai SEC Proposes UBO Registration Rules for Securities Firms
08/08/2021
Securities firms offering trading, exchange or underwriting services will be required to ensure customers register their foreign beneficiaries.
Securities / Derivatives
TWSE to Enhance Timeliness of Disclosures by Listed Firms
08/08/2021
In 2022, some listed companies will have to start disclosing uncertainties about their ability to continue as a going concern based on unaudited financial information.
Securities / Derivatives
FSC Korea Issues Notice on Rule Changes for PE Funds
07/08/2021
A new classification system will distinguish between “general PEFs” and “institution-only PEFs”. PEFs will be subject to increased monitoring and external audits.
Enforcement
ASIC Sues Credit Firms for Failing to Cooperate with AFCA
06/08/2021
Two firms repeatedly engaged in disruptive, aggressive and uncooperative behaviour toward AFCA, a civil penalty offence since April 2019.
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