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
Payments & Settlements
ACCC Sees Price Transparency Improvements Among FX Remitters
13/08/2021
The ACCC says 12 of 15 prominent remitters are either adhering to best practice for price disclosure or need to make only minor improvements.
Anti-Money Laundering
ICAC Charges Company Director for Fraud, Money Laundering
13/08/2021
The director faces charges for defrauding BOCHK into making L/C payments to a supplier and then laundering the proceeds back to his own company.
Structural Regulation
DTCC Urges Readiness for MAS Derivatives Reporting Requirements
12/08/2021
Finance companies, subsidiaries of banks in Singapore, insurers and CMS licence holders will come into scope for reporting from 1 October.
Structural Regulation
Australia Passes Amendments to Continuous Disclosure Laws
12/08/2021
Companies can provide forward-looking guidance to the market without the fear of class actions if forecasts are found to be inaccurate.
Structural Regulation
FMA Proposes Financial Reporting Exemptions for Insolvent Firms
11/08/2021
New Zealand’s FMA is considering introducing a class exemption for insolvent FMC reporting entities from certain financial reporting obligations.
Emerging Prudential Risks
New Zealand Parliament Passes Reserve Bank Bill
11/08/2021
The bill will strengthen the RBNZ’s decision-making, governance, independence and accountability, and change its funding model.
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.
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