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.
Enforcement
Australia: Former Financial Adviser Jailed for Six Years
04/08/2020
Graeme Walter Miller was sentenced to six years’ imprisonment for misappropriating close to A$2mn for his own purposes.
Big Picture
FMSB Publishes Spotlight Review on Market Surveillance
04/08/2020
The Spotlight Review looks at current and future challenges that FICC market participants face in market surveillance and the impact of machine learning.
Market Infrastructure
SC Orders Bursa Malaysia to Conduct Full Systems Review
02/08/2020
The Securities Commission has ordered Bursa Malaysia to conduct a thorough systems review, after a glitch forced a trading halt in mid-July.
NAB to Stop Dealing with Unlicensed Debt Management Companies
02/08/2020
NAB says it wants to ensure vulnerable customers are appropriately and professionally supported, either directly by the bank or an accredited representative of their choice.
Big Picture
Third Global Financial Crisis May Be Imminent: ex-HKMA Chief
30/07/2020
Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.
Crypto / Digital Assets
Philippines Launches DLT-based Distribution of Retail Treasury Bonds
29/07/2020
The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.
Securities / Derivatives
New Zealand FMA Warns Derivatives Issuers to Ensure Compliance
29/07/2020
Self-assessments by derivatives issuers have identified risks stemming from the way they handle client money, provide advice to retail clients, and handle vulnerable customers.
Securities / Derivatives
Malaysia Proposes to Allow Lower Public Holding of Large Caps Stocks
27/07/2020
Proposed listing rule amendments will allow some large listed issuers to have a public holding spread as low as 15%, compared to the current 25% minimum.
Securities / Derivatives
SEBI Directs Funds to Trade Corporate Bonds Through Exchanges
23/07/2020
From October, SEBI will require mutual funds to trade at least 10 percent of their corporate bonds through RFQ platforms of stock exchanges to enhance transparency and price discovery.
Enforcement
ASIC Commences Civil Penalty Proceedings Against FX Firm
22/07/2020
Forex Capital Trading and its sole director allegedly used high pressure sales tactics, false or misleading statements, and conflicted remuneration to maximise trading volume and client deposits.
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