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
Enforcement
ASIC Sues Three Firms For Illicitly Offering FX Margin Trading
15/12/2020
ASIC alleges Union Standard provided trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those products.
AML / KYC
AUSTRAC Releases Risk Assessment of Junket Tour Operators
15/12/2020
AUSTRAC expects casinos to use the risk assessment to protect their businesses and communities from criminal threats such as money laundering.
Capital / Liquidity
Korea Passes Law on Supervision of Non-Holding Financial Groups
15/12/2020
The law requires the establishment of an internal group-wide risk management body, overseen the group’s top representative company.
ESG / Sustainability
Taiwan FSC Unveils Three Year Capital Market Roadmap
09/12/2020
The roadmap aims to promote ESG development, establish operational rules to enable central clearing for OTC derivatives, and boost fundraising in the capital markets.
ASIC to Update Regulatory Guide on Consumer Remediation
08/12/2020
There are opportunities for firms to identify issues that can lead to remediations earlier, and to ensure remediation payments are made more quickly and fairly.
AML / KYC
Global Coalition to Fight Financial Crime Expands Membership
08/12/2020
Interpol and Western Union are among the five new additions to the GCFFC’s membership, bringing the total count to 18 organisations.
Enforcement
RBNZ Reprimands Pacific International Insurance Over Reporting Failures
03/12/2020
The RBNZ says Pacific International Insurance’s poor history of non-compliance with regulatory reporting requirements continued despite repeated warnings.
Securities / Derivatives
Ho Chi Minh Bourse to Raise Minimum Board Lot Tenfold
03/12/2020
HoSE plans to allow two weeks for modifications to trading systems, one week for testing, and implementation in January 2021.
Market Infrastructure
NZFMA Starts Publishing New OCR Compound Index
03/12/2020
The OCR compound index provides market participants with a standardised method of calculating term risk-free interest rates in arrears.
Fintech / Regtech
China Crackdown Brings Number of Active P2P Lenders to Zero
02/12/2020
Chinese media reports that the number of P2P lenders has now fallen to zero, down from a peak of almost 6,000 such firms in 2017.
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