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
Clearing & Post-Trade
OCBC Joins LCH SwapClear and HKEX’s OTC Clear
24/09/2023
Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.
Conduct, Culture & Accountability
Australia Court Fines NAB $1.3m for Overcharging Customers
23/09/2023
The penalty was the maximum allowed by legislation that existed at the time of the contravening conduct. The court said a penalty “several times” higher would have been more appropriate.
Structural Regulation
ASIC Postpones Financial Adviser Registration to 2024
22/09/2023
The financial adviser registration requirement was initially due to commence in January 2023. This is now the third extension.
Fraud, Scams & Cybercrime
SFC Confirms Crypto Firm JPEX Never Approached it About Licensing
22/09/2023
JPEX breached the SFO and AMLO by publishing confidential correspondence with the SFC. Three more arrests have been made.
Market Abuse
ASIC Fines Interactive Brokers Over Client’s Suspicious Trading
21/09/2023
ASIC said the firm was ‘negligent’ in its failure to identify suspicious trading by a client and ‘reckless’ in continuing to allow further suspicious trading after ASIC raised concerns.
Cryptocurrency
ASIC Sues Crypto Exchange for Margin Trading Product
21/09/2023
ASIC says Bit Trade did not comply with its design and distribution obligations when offering a margin trading product to Australian customers.
Anti-Bribery & Corruption
Australia Proposes Reforms After PwC Tax Leak Scandal
21/09/2023
Australia has commenced consultations on draft legislation to strengthening the integrity of the tax system and increasing the power of regulators.
PEPs & Sanctions
US SEC Charges NY Investment Firm for Advising Russian Oligarch
19/09/2023
The SEC charged Concord Management and its owner for failing to register as investment advisers while advising a sanctioned Russian oligarch.
Fraud, Scams & Cybercrime
NZ Banks Pledge New Measures to Combat Scams
18/09/2023
The measures include the establishment of a national Anti-Scam Centre and the introduction of a ‘confirmation of payee’ account name checking service.
Cryptocurrency
HKMA, SFC Warn of Illegal Offerings by Crypto Firms
18/09/2023
The HKMA warned about crypto firms labelling themselves as banks. The SFC warned about a crypto firm called JPEX which falsely claims to be licensed.
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