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
Structural Regulation
Thailand SEC to Remove Hardcopy Document Requirement for Takeovers
23/11/2020
Under the SEC’s proposal, investors who make a tender offer for all the securities of a business will no longer have to submit hardcopy documents in the tendering process.
Tokenisation
Singapore’s iSTOX Signs Digital Securities MOU with Chongqing Regulator
23/11/2020
The Chongqing Local Financial Supervision and Administration Bureau has pledged to support the establishment of an iSTOX digital securities exchange in Chongqing.
Liquidity Risk
Thailand SEC Revises Net Capital Rules to Bolster Liquidity
22/11/2020
The SEC will allow securities companies to include the value of digital assets when calculating their net capital funds, though a haircut of at least 50 percent will be applied.
Payments & Settlements
BOK, FSC Clash Over Supervisory Authority in Fintech, Payments
21/11/2020
The FSC has proposed legislative amendments that would give it power over payment settlements in the fintech industry. The BOK says this will create redundant regulations.
Payments & Settlements
Vietnam Working to Allow Cooperation With Foreign Firms in Payments
21/11/2020
Currently, Vietnam has no regulations for international payments to be made via foreign intermediary payment operators or e-wallets.
Payments & Settlements
BSP Seeks Interoperability, Unified Standard in Payments
21/11/2020
BSP governor Benjamin Diokno envisions that payment facilities operated by individual banks and payment firms will operate under a single standard.
Structural Regulation
FSC Korea Threatens to Withdraw Incentives for Internet-only Banks
20/11/2020
The FSC has criticised Kakao Bank for disregarding customers with average credit scores, and instead favouring borrowers with high credit scores.
Reporting & Disclosures
Thailand Proposes Compulsory ESG Training for Capital Market Personnel
19/11/2020
Investment consultants and fund managers, among others, would be required to undergo a mandatory training module covering ESG at licence renewal.
Fraud, Scams & Cybercrime
Australian Police Charge Ex-Promoter of Failed Crypto Platform
19/11/2020
The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.
Fraud, Scams & Cybercrime
Taishin Bank Employee Arrested in Taiwan for Embezzlement
19/11/2020
The employee allegedly misappropriated over $10.5mn. The FSC described the case as “the biggest embezzlement case in Taiwan’s banking history”.
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