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
Anti-Money Laundering
India Brings Company Formation Agents into Scope of AML Law
11/05/2023
Persons who act as formation agents, directors, trustees and nominee shareholders for companies and LLPs are brought into scope.
Resolution & Recovery
MAS Considers Possible Changes to Deposit Insurance Scheme
10/05/2023
MAS will issue a consultation by the end of June on proposals to ensure Singapore’s deposit insurance scheme remains fit for purpose.
Structural Regulation
FSC Korea to Lower Regulatory Burden for Firms Seeking M&A
09/05/2023
The FSC will ease requirements on potential buyers to prove their financial capacity and set up facilities to help finance M&A activity.
Conduct, Culture & Accountability
ASIC Revises Implementation Approach for IDR Data Reporting
08/05/2023
97 large financial firms started reporting IDR data early this year. 260 firms will have to start reporting by August 2023. The remaining firms will have until 29 February 2024.
Market Abuse
UK FCA Fines Banque Havilland for Alleged Manipulative Trading
06/05/2023
Banque Havilland employees including the CEO created and distributed a document containing “manipulative trading strategies” aimed at harming Qatar’s economy.
AI Risk & Governance
UK CMA Commences Review of AI Models
05/05/2023
The CMA’s initial review will explore the opportunities and risks AI models could bring for competition and consumer protection.
KYC & CDD
RBI Updates Master Direction on KYC for Wire Transfers
05/05/2023
The revised master directions highlight the need for all wire transfers to be accompanied by accurate and complete originator and beneficiary information.
Structural Regulation
ASIC Uncovers Widespread Noncompliance With DDO Rules
04/05/2023
ASIC deputy chair Karen Chester said closer scrutiny of how product issuers are meeting their design and distribution obligations is coming.
Structural Regulation
PNGX Set to Adopt New Listing Rules, T+2 Settlement Cycle
04/05/2023
The new listing rules will take effect in July, at the same time PNGX moves from a T+3 to T+2 settlement cycle.
Conduct, Culture & Accountability
NZ FMA Directs Banks to Ensure Incentives Create Fair Outcomes
04/05/2023
Banks must confirm by 31 May that they have removed incentives linked to sales measures for salespeople and managers.
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