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
Hong Kong ICAC Charges Two for Defrauding Four Banks
03/09/2020
An SME director and a former clerk allegedly conspired to defraud four commercial banks, the Trade and Industry Department, and Hong Kong Mortgage Corporation.
Uncategorised
New US Exchange MEMX Postpones Launch for Additional Testing
03/09/2020
Wall Street-backed MEMX will begin trading in six symbols on 21 September before trading all National Market System stocks on 29 September.
Crypto / Digital Assets
Seoul Police Raid Crypto Exchange Bithumb Over Fraud Allegations
03/09/2020
Police reportedly raided South Korea’s largest crypto exchange and confiscated data in connection with a fraud investigation involving the pre-sale of BXA tokens to investors.
APRA Consults on Changes to EFS Reporting Standards
25/08/2020
The consultation is open for comment until 25 September. The changes are proposed to be effective for the reporting period ending June 2021.
Fintech / Regtech
Digital Yuan Testing Limited to Small Transactions Only, PBOC Clarifies
25/08/2020
China is currently testing its sovereign digital currency with four state-run commercial banks in Shenzhen, Suzhou, Xiongan and Chengdu.
Securities / Derivatives
Australia Transitions to New Regulatory Regime for Litigation Funders
24/08/2020
Litigation funders will have three months of transition relief before they have to mandatorily hold an AFS licence and comply with rules for managed investment schemes.
Capital / Liquidity
BOT to Launch Debt Restructuring Programme for Businesses
24/08/2020
The new programme is designed to help businesses to restructure debt owed to multiple creditors. A similar programme for household borrowers already exists.
Crypto / Digital Assets
Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact
24/08/2020
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
Enforcement
ASIC Takes Former ANZ Unit to Court Over Cybersecurity Failures
24/08/2020
ASIC is seeking orders requiring RI Advice Group to pay a civil penalty and ensure it implements systems to adequately manage cyber risk.
Fintech / Regtech
BSP Takes Consumer Complaints Chatbot Live
20/08/2020
The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
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