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
ASIC Directs Licensees to Improve Remediation Procedures
27/09/2023
ASIC conducted a review of the remediation policies and procedures of some large FIs and identified gaps and inconsistencies that could lead to poor customer outcomes.
CBDCs
PBOC Adds CBDC Feature to Boost Adoption Among Foreigners
27/09/2023
The e-CNY app now allows foreigners to top up their digital wallets using global payment networks Visa and Mastercard.
KYC & CDD
Philippine SEC Stresses Need for CDD on DNFBP Clients
26/09/2023
Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.
Conduct, Culture & Accountability
Australian Court Fines ANZ for Unlawful Credit Card Charges
26/09/2023
ANZ was ordered to pay a A$15mn penalty, on top of A$8.3mn in remediation paid to over 186,000 credit card accounts.
Cryptocurrency
HK SFC to Provide Transparency on Crypto Licence Applicants
26/09/2023
The SFC will publish a list of all firms that have applied for a VATP licence and launch other investor education initiatives.
Trading & Investment
CSRC Probes Hedge Funds, Brokers Over Quant Strategies – Report
25/09/2023
The CSRC is seeking information on the trading strategies and short-selling activities of quant funds, and their impact on the stock market.
Trading & Investment
HKMA Designates New Market Makers for Southbound Bond Connect
25/09/2023
The new designations bring the total number of designated market makers for Southbound Bond Connect trading from 13 to 22.
Market Abuse
US SEC Fines Citadel Securities for Violating Short-Selling Rules
24/09/2023
Citadel agreed to pay $7mn to settle charges that it incorrectly marked short sale orders as long sales, and vice versa, over a five year period.
Resolution & Recovery
MAS Announces Decision to Increase Deposit Insurance Limit
24/09/2023
MAS will increase the maximum deposit insurance coverage from the current S$75,000 to S$100,000, starting from 1 April 2024.
Conduct, Culture & Accountability
SEC Fines Goldman for Submitting Inaccurate Securities Trading Data
24/09/2023
Goldman Sachs has agreed to USD 6 million for submitting deficient submissions that included missing or inaccurate trade data for at least 163 million transactions.
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