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
AML / KYC
WEF Offers Framework to Help Prevent Illicit Financial Flows
16/06/2021
The “Unifying Framework” published this month sets out five core practices for gatekeepers to use to identify and respond to potential illicit activity.
Enforcement
Hong Kong: Ex-Dah Sing Bank Manager Jailed for Fraud
16/06/2021
The former financial planning manager told a client he was required to buy an insurance policy before he could open a corporate bank account.
Securities / Derivatives
US Federal Court Sanctions Australian Trader for Spoofing
15/06/2021
The Propex Derivatives trader is required to repay $21,000 in disgorgement and cease and desist from violating anti-spoofing and manipulation rules.
Enforcement
MAS Reprimands Four FIs Over Remuneration Practices
15/06/2021
Two insurers, two financial advisory firms, and two individuals were reprimanded over breaches related to their risk management arrangements and remuneration practices.
Crypto / Digital Assets
More Chinese Provinces Restrict Crypto Mining Activity
15/06/2021
Qinghai, Yunnan, and a prefecture in Xinjiang have joined Inner Mongolia in imposing restrictions on cryptocurrency mining.
Market Infrastructure
China Passes Law Establishing Hainan as Free Trade Port
15/06/2021
The law states that Hainan will implement a “minimalist” investment approval system and create an “open, transparent, and predictable investment environment”.
Fintech / Regtech
FSC Korea Grants Preliminary Approval to ‘Kakao Insurance’
11/06/2021
This first time the FSC has granted approval for digital insurance business to a new entrant that is not already an insurer.
Securities / Derivatives
Thailand SEC Streamlines Process for Mutual Fund Approvals
11/06/2021
Asset managers can start submitting applications for approval to establish a new mutual fund using a new online system from 1 June.
Securities / Derivatives
SEBI Updates Rules for Centralised Corporate Bond Database
11/06/2021
The updated rules aim to further streamline the centralised database and provide further ease of access of information for investors.
Korea to Require Lenders to Pay Into Microfinance Support Fund
11/06/2021
Proposed revisions set the common contribution rate at 0.03 percent of the balance of household loans for each financial institution.
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