On 7 October 2021, CRO HANFA said will comply with MiFID II ESMA guidelines. CRO HANFA announced compliance with ESMA guidelines on MiFID II market data. Follows ESMA August 2021 translated guidelines on MiFID II/ MiFIR duties. Overview Board adopted guidelines that contribute to increasing capital market's transparency. Transparency both in pre- and post trading,…
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U.K. – FCA Updated Short Selling Guidance
On 4 October 2021, UK FCA updated short selling guidance page to update sterling price. FINMAR 2.5.6 sets out details on exchange rate used for converting EUR into GBP for purposes of calculating a significant fall in value (article 23(1)(b) of reg 918/2012). From 1 October 2021, the corresponding sterling price for €0.5 is £0.43.…
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Australia – ASIC Securities Lending Rules
On 1 October 2021, AST ASIC issued rules on securities lending arrangements. AST ASIC issued ASIC corporations (securities lending arrangements) instrument StIn 2021/821 which makes modifications to ASTCA S 608, 609, 671B. In order to grant relief in relation to reporting substantial shareholdings, for certain entities involved in securities lending as part of their financial…
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Ireland – CB Investment Funds Breaches
On 30 September 2021, IRE CB fined Sarasin Funds Management €385,000. IRE CB reprimanded and fined Sarasin Funds Management (Ireland) Limited €385,000 for four admitted breaches of investment funds regulations from May 25-March 2, 2018. Appropriate fine of €550,000 reduced by 30% as per the settlement discount scheme. Background Authorized UCITS fund management firm, managed…
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Israel – TASE Extends Short Selling Consultation Deadline
On 29 September 2021, ISR TASE further extended deadline for consultation until 31 October. Key Changes Delete the definitions lender member and borrowing member, correct the definitions sale missing, lender and borrower, and add a definition to missing balance. Amend definition of short sale so a customer who borrows a security from a member and…
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India – SEBI Foreign Portfolio Investors Regulations
On 28 September 2021, IND SEBI approved the proposal to amend the SEBI (foreign portfolio investors) regulations, 2019 for permitting resident Indians (other than individuals) to become constituents of FPIs that are registered as AIFs in IFSCs.
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