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.
Fintech / Regtech
BSP Takes Consumer Complaints Chatbot Live
20/08/2020
The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
Enforcement
ASIC Launches Civil Proceedings in Two Fees-for-no-service Cases
20/08/2020
ASIC has commenced ‘fees for no service’ cases against Asgard Capital Management, BT Funds Management, and StatePlus Super.
Enforcement
SEC Opens Fraud Investigation Into Chinese Streaming Service iQiyi
17/08/2020
The investigation into follows an April report from Wolfpack Research alleging Nasdaq-listed iQiyi inflated its revenue, user numbers and expenses.
Fintech / Regtech
Federal Reserve, MIT to Develop, Test ‘Hypothetical’ Digital Dollar
16/08/2020
Fed governor Lael Brainard said lessons from the collaboration will be published, and any codebase developed will be offered as open-source software.
Fintech / Regtech
UPDATED – China to Include Beijing, Hong Kong in Digital Yuan Pilot
16/08/2020
The move to expand the digital yuan pilot to major cities including Shanghai, Beijing, Guangzhou and Hong Kong brings coverage to a potential user base of around 400 million.
Fintech / Regtech
Singapore Premiers Blockchain-based Bond Exchange, BBX
13/08/2020
BondbloX Bond Exchange uses a permissioned blockchain to enable electronic trading of bonds in $1,000 denominations, with instant settlement and greater price transparency.
Securities / Derivatives
ASIC Issues Warning on Asset Valuations in Managed Funds
12/08/2020
ASIC says it is aware that illiquid assets have been difficult to value amid the pandemic, but asserts that it is precisely in this context that valuations are most important.
Fintech / Regtech
ACCC Declines to Pursue Banks Over Screen Scraping Warnings
12/08/2020
Australia’s competition watchdog says the banks’ warnings against screen scraping security risks do not constitute anti-competitive conduct.
Securities / Derivatives
Korea: FSS to Probe Frozen Notes Linked to Singapore, Hong Kong
10/08/2020
The FSS reportedly wants to determine why redemptions in some structured notes linked to Singapore trading firms have been frozen.
Market Infrastructure
Hong Kong FSDC Proposes to Allow Tax Offsets Within Group Structures
10/08/2020
The proposed reforms would allow financial services groups operating in Hong Kong to offset the profits of one group company against losses in another.
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