On 30 January 2024, TAI FSC issued order on finalizing substantial shareholding amendment to regulations. TAI EXC also published the amended regulations into database on the same day. The substantial shareholding amendments are effective from 10 May 2024. Amendments Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%. Substantial shareholders will…
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U.K. – FCA Primary Market Bulletin 47 Re: Short Selling
On 26 January 2024, UK FCA issued PMB 47 focused on short selling rules. UK FCA issued primary market bulletin (PMB) 47 that covered Short Selling Regulation developments as well as the Credit Rating Agency UK Market Share Report for 2022. Short Selling Regulation Following consultation process on the UK Short Selling Regulation, UK GVT…
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Poland – FSA Krzysztof Gawla Substantial Shareholding Penalties
On 30 January 2024, POL FSA upheld decision of POL FSA to impose the fines of 20,000 PLN, 140,000 PLN, 220,000 PLN, 40,000 PLN, 110,000 PLN, 200,000 PLN, 140k PLN. Background On July 2023, POL FSA fined Krzysztof Gawla for various violations related to not notifying certain companies and the Commission about changes in substantial…
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Germany – BaFin Securities Control Ordinance: RE Significant Shareholding
On 15 January 2024, GE BaFin issued rules on notification of significant shareholding. BE BaFin announced Securities institution owner control ordinance, WpI-InhControlV. Follows GE GVT December 2023 issued law on advertisement and documents. Control Ordinance The full title of the legislation is the Ordinance on advertisements in accordance with Section 24 of the Securities Institutions…
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Spain – CNMV Short Selling RE: Grifols-Gotham
On 23 January 2024, ESP CNMV issued statement in relation to Grifols case. ESP CNMV statement in relation to Grifols and related Gotham City Research report. ESP CNMV has not detected, from Jan. 9 until today, any specific privileged information pending publication representing asymmetric information between different investors. Therefore it has not been necessary to…
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U.K. – BoE Discuss Short Selling
On 22 January 2024, UK BoE issued minutes of November 2023 Securities lending committee meeting. UK FCA updated that UK Treasury had published a draft Statutory Instrument for the new UK short selling regime, and had asked for technical comments from the market. UK Treasury had announced plans to publish the final Statutory Instrument in…
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