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
APRA Finalises Revised Approach to Licensing New Banks
11/08/2021
The new approach increases clarity around capital requirements at different stages for new entrants to the banking sector.
DeFi & Web3
DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021
11/08/2021
In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.
Structural Regulation
SEBI Eases Lock-in Period for Promoters, Pre-IPO Investors
11/08/2021
The lock-in period for promoters will be eased from 36 to 18 months. For pre-IPO investors, the lock-in will be reduced from 12 to 6 months.
Structural Regulation
NAB Enters Agreement to Acquire Citigroup Consumer Business
10/08/2021
Subject to regulatory approvals from the Treasury, APRA and the ACCC, the acquisition is expected to be complete by March 2022.
Data Privacy
BSP to Finalise Members of Open Finance Body This Year
10/08/2021
The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.
Conduct, Culture & Accountability
Taiwan FSC to Raise Compensation for Automatic Dispute Settlement
10/08/2021
The FSC will raise the compensation ceilings under which financial companies have to automatically accept settlement decisions.
KYC & CDD
Thai SEC Proposes UBO Registration Rules for Securities Firms
08/08/2021
Securities firms offering trading, exchange or underwriting services will be required to ensure customers register their foreign beneficiaries.
Structural Regulation
TWSE to Enhance Timeliness of Disclosures by Listed Firms
08/08/2021
In 2022, some listed companies will have to start disclosing uncertainties about their ability to continue as a going concern based on unaudited financial information.
Alternative Markets
FSC Korea Issues Notice on Rule Changes for PE Funds
07/08/2021
A new classification system will distinguish between “general PEFs” and “institution-only PEFs”. PEFs will be subject to increased monitoring and external audits.
Conduct, Culture & Accountability
ASIC Sues Credit Firms for Failing to Cooperate with AFCA
06/08/2021
Two firms repeatedly engaged in disruptive, aggressive and uncooperative behaviour toward AFCA, a civil penalty offence since April 2019.
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