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
Capital Adequacy
ASIC Enhances Capital Rules for Securities, Futures Firms
17/06/2021
Securities market participants must hold core capital of at least A$500,000, up from A$100,000 currently required. One year is given for compliance.
Credit Risk
Korea: FSC, Lenders Agree to Extend Debtor Support
17/06/2021
The application deadline for pre-workout programmes was due to end at the end of this month. This will be extended to 31 December.
Market Data & Technology
ASX Completes Corporate Actions Upgrade Project
17/06/2021
The project enables full straight-through processing for corporate actions, reducing risk for market participants and facilitating more informed decision-making.
Structural Regulation
Korea Allows Securities Firms to Extend Credit to Overseas Affiliates
16/06/2021
Large securities firms will be allowed to extend credit to overseas branches and subsidiaries in which they have at least a 50 percent stake.
Conduct, Culture & Accountability
CBIRC Reprimands Fintech Firm for Consumer Rights Violations
16/06/2021
The CBIRC said Mashang Consumer Finance violated product pricing rules, consumer rights, and fair trade regulations.
Conduct, Culture & Accountability
ASIC Issues Guidance on Ongoing Fee Arrangements
16/06/2021
A new information sheet provides guidance on ongoing fee arrangements, fee disclosure statements, and ongoing fee consents.
Structural Regulation
SEBI Revises Eligibility Rules for Regulatory Sandbox
16/06/2021
SEBI-registered entities can apply to the sandbox in partnership with other entities. Eligibility requirements are set out for two stages of sandbox testing.
Cloud & Infrastructure
China to Expand Fintech Sandbox to More Regions – Report
16/06/2021
The governments of Dalian, Guizhou, Hubei, Shanxi and Xinjiang have reportedly unveiled plans to launch new fintech sandboxes this year.
Anti-Money Laundering
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.
Fraud, Scams & Cybercrime
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.
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