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
AML / KYC
Philippine AMLC Issues Guidance on TFS Delisting, Unfreezing Orders
02/08/2021
Designated persons shall apply to the AMLC for authorisation if they wish to deal with or access funds or assets that are frozen due to targeted financial sanctions.
Enforcement
CBIRC Fines Eight Lenders Over Property Loan Violations
02/08/2021
China Construction Bank received the biggest penalty of CNY 6.1 million. ICBC and Agricultural Bank of China were fined CNY 1.5 million each.
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.
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