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
Operational Risk
FINMA Opens Probe Into Credit Suisse Archegos Losses
24/04/2021
The Swiss regulator said it will appoint a third-party agent to investigate “possible shortcomings in risk management” at Credit Suisse.
Conduct, Culture & Accountability
Taiwan FSC Probes Next Bank Over Possible Regulatory Breaches
22/04/2021
Next Bank is one of the three internet-only banks that was issued a licence by the FSC in 2019. The bank has yet to launch operations.
Conduct, Culture & Accountability
FMA Warns Fund Managers Not to Mislead Investors
22/04/2021
The FMA has directed fund managers not to advertise performance which only includes the recovery after March 2020.
Resolution & Recovery
New Zealand to Introduce Deposit Guarantee Scheme by 2023
22/04/2021
The NZBA’s Roger Beaumont says banks should pay lower levies compared to non-bank deposit takers because they are less likely to call on the scheme.
Resolution & Recovery
Close-out Netting Can Be Guaranteed in Resolution: CBIRC
22/04/2021
Recent bankruptcies by FIs have “fully proved” that close-out netting can be guaranteed in the resolution stage, a CBIRC official said at ASIFMA’s China Capital Markets Week.
Emerging Prudential Risks
BOJ Warns of Post Covid Risks to Financial Stability
21/04/2021
Even after the pandemic subsides, low interest rates will continue to exert downward pressure on FIs’ profits, the BOJ says.
Trading & Investment
IIF Calls for Stricter Disclosure, Accounting Rules in A-Share Market
21/04/2021
Despite the attractiveness of Chinese equities, foreign ownership remains lower than in other major markets at 4.3 percent.
Fraud, Scams & Cybercrime
Mirae Asset Sues Shinhan Over Lime Fund Losses
21/04/2021
Shinhan Bank has separately been ordered to repay up to 75 percent of investments it sold in Lime’s credit insured funds.
Anti-Money Laundering
Taiwan to Require Crypto Sector to Comply with AML Rules
21/04/2021
Crypto exchanges and trading platforms will have to comply with AML requirements for conventional banks starting 1 July.
CBDCs
HM Treasury, BOE Form CBDC Taskforce to Explore ‘Britcoin’
21/04/2021
The taskforce will coordinate work to explore a potential ‘Britcoin’, though a decision has not been made on whether a CBDC would be introduced.
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