Sanday Chongo Kabange

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    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

    Sanctions

    State Street Updates TraHK Prospectus as US Sanctions Take Effect

    01/08/2021

    In an addendum, State Street says TraHK units will not be offered or sold in the US or to US persons located outside the US.

    Fintech / Regtech

    BOT Issues Guidance on Blockchain Adoption in Financial Services

    01/08/2021

    The guideline covers blockchain application in financial businesses, project governance, security standards, and risk management, among other areas.

    Enforcement

    Australia: BT, Asgard Fined for Charging Fees for No Service

    30/07/2021

    Westpac will pay A$3mn in civil penalties for BT Funds Management and Asgard Capital Management in proceedings commenced by ASIC in August 2020.

    Market Infrastructure

    NZ FMA Issues Cyber Resilience Guidance for Financial Advisers

    30/07/2021

    Under New Zealand’s new financial advice regime, many individuals and entities have not previously been subject to compliance obligations for cybersecurity.

    Enforcement

    CSRC Fines ByteDance Employee for Insider Trading

    30/07/2021

    The CSRC fined the ByteDance employee nearly nine times the profit he made from trading shares on insider information.

    Securities / Derivatives

    Independent Report Finds Risk Control Failures at Credit Suisse

    30/07/2021

    The report indicates that the risks were known, but responsible parties in the first and second lines simply failed to act.

    Crypto / Digital Assets

    Australia: Industry Body Seeks Greater Clarity on Crypto Regulation

    30/07/2021

    Blockchain Australia has asked for safe harbour to be provided to ensure regulatory action will not be taken against crypto businesses where the law is unclear.

    Securities / Derivatives

    China Will Still Allow IPOs in the US, CSRC Tells Brokers

    29/07/2021

    Regulators will continue to allow VIE structures, recognising that they serve as a vital way for companies to attract foreign capital.

    Fintech / Regtech

    Korea FSC Expands Open Banking Services to Fintechs

    29/07/2021

    Users will be able to access information about their prepaid deposit accounts from mobile applications of any FI offering open banking.

    Market Infrastructure

    Hainan Opens Market Access with Shorter Negative List

    28/07/2021

    Foreign businesses and individuals are required comply with just 70 special management measures in 11 industries.

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