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
Conduct, Culture & Accountability
APRA Orders Independent Review of Cbus, BUSSQ Governance
14/08/2024
APRA imposed additional licence conditions to address concerns regarding fitness and propriety processes and fund expenditure management.
Market Risk
HKMA Issues Supplementary Guidance on Market Risk, CVA Risk
14/08/2024
The guidance clarifies that funding swaps should typically be assigned to the trading book unless designated as hedging instruments under hedge accounting.
AI Risk & Governance
HKMA Launches New GenAI Sandbox at Hong Kong Cyberport
14/08/2024
HKMA CEO Eddie Yue said sandbox will empower banks to pilot their novel GenAI use cases within a risk-managed framework.
Conduct, Culture & Accountability
ASIC Commences Legal Action Against ASX Over Misleading Statements
14/08/2024
ASIC alleges that ASX’s claims in February 2022 that the CHESS replacement project was tracking to plan were “misleading and deceptive”.
Structural Regulation
BSP to Start Accepting New Digital Bank Applications in January
09/08/2024
The BSP will lift the moratorium on granting new digital bank licences starting 1 January 2025. Only four new licences will be granted.
Fraud, Scams & Cybercrime
Australia to Roll Out ‘Confirmation of Payee’ in Early 2025
09/08/2024
SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.
Market Abuse
Ex-China Forestry Execs Found Culpable of Market Misconduct
08/08/2024
Former CEO and former chairman culpable for disclosing false information in China Forestry’s IPO prospectus, annual results, and annual report in 2008 and 2009.
KYC & CDD
HKMA Issues Circular on Changes to Tax Reporting Jurisdictions
08/08/2024
The HKMA said banks are expected to treat customers fairly and minimise their burden when reporting their tax information.
Fraud, Scams & Cybercrime
Australian Police Obtain New Intelligence on Crypto Scams
08/08/2024
The AFP identified over 2,000 compromised crypto wallets belonging to Australians by participating in a global anti-scam initiative launched by Chainalysis.
Cybersecurity
BSP Unveils 5yr Financial Services Cyber Resilience Plan
08/08/2024
The plan set out key goals, priority actions and milestones to be achieved between 2024 to 2029 to enhance industry resilience against cyber threats.
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