On 22 June 2017, SEC fined ex- ITG managing director $100k re ADR oversight. Anthony Portelli, ex-head of operations, agreed to settle charges, pay $100k fine. He is also prohibited from acting in a supervisory capacity for at least 18 months. Supervised securities lending, and compliance with ADR pre-release agreements. Staff failed to take steps…
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SA Expands Consolidated Takeover Feed to 14 Countries
Solutions Atlantic has expanded its consolidated takeover list to 14 countries; now including Australia, Cyprus, and Malaysia. This consolidated takeover feed supports the takeover reporting obligations simplified by the Regulatory Reporting System. Also released are updated forms for UK TR-1 and Hong Kong SFC Form 2 both of which become effective in the coming weeks.
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Iceland – SA Releases Short Sale Reporting Rule
As previously reported in April 2017, the Icelandic Financial Supervisory Authority announced its proposal to implement the EU Short Selling Regulation into Icelandic law. SA has released the ESMA SSR Rule for Iceland ahead of the effective date, 1 July 2017. More about the ESMA SSR rule: The short selling regulation is a regulation of…
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Hong Kong – SFC Convicts and Fines for Illegal Short Selling
Former responsible officer convicted and fined for illegal short selling. The Eastern Magistrates’ Court has convicted Mr Sammy Shiu Kin Keung after he pleaded guilty to illegal short selling in the shares of Share Economy Group Limited (formerly known as Vitop Bioenergy Holdings Limited) , Global Tech (Holdings) Limited and China Ocean Industry Group Limited…
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