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
Enforcement
SFC Suspends GEO Securities Executive for 7.2 Months
11/06/2021
GEO’s breaches were attributable to Lun Sheung Nim’s failure to discharge his duties as a responsible officer and member of the senior management.
Fintech / Regtech
French, Swiss Central banks Partner to Test Wholesale CBDC
11/06/2021
Project Jura will investigate the potential benefits and challenges of wCBDC in settling cross-border payments.
Big Picture
WEF Publishes ‘Policy-maker Toolkit’ for Decentralised Finance
10/06/2021
The report offers a range of policy actions that can be adopted for DeFi, ranging from the introduction of new licence types and imposing prohibitive measures to doing nothing at all.
Securities / Derivatives
Sri Lanka Cabinet Approves Bill to Enhance Capital Market
10/06/2021
The bill is aimed at enhancing market regulation, improving enforcement mechanisms, and creating a more efficient capital market with better governance standards.
Securities / Derivatives
CSRC Grants Securities License to DBS Joint Venture
10/06/2021
DBS Securities China, 51 percent owned by DBS Bank, has official commenced business operations under a new securities licence.
Enforcement
Chinese Police Detain Sichuan Trust Boss Over Missing Funds
09/06/2021
Liu Canglong, who controls companies with a majority stake in Sichuan Trust, is being held by the public security bureau in Chengdu.
AML / KYC
Taiwan FSC Fines Mega Bank $10mn for Fake Mortgages
09/06/2021
Mega Bank failed to detect over 28 mortgages applications that were made by dummy accounts due to poor internal controls.
Big Picture
BOE Issues Paper Exploring New Forms of Digital Money
09/06/2021
The BOE seeks feedback on the discussion paper as it examines how CBDCs and stablecoins could impact the financial system and wider economy.
Crypto / Digital Assets
China’s Weibo Blocks Selected Crypto Influencer Accounts
09/06/2021
The move follows joint action by three state-backed associations to bar their members from providing crypto-related services to customers.
AML / KYC
US DOJ Recovers $2.3mn of Ransom Paid to Colonial Pipeline Hackers
09/06/2021
Investigators were able to track multiple transfers of bitcoin by reviewing the Bitcoin public ledger, and subsequently seized 63.7 bitcoins.
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