In The News

Brazil – CVM Takeover Bids Changes

On 10 May 2019, CVM proposed changes to rules on takeover bids. Consultation on amendments to CVM Instruction 361 on tender offer procedures. Key Changes The instruction relates to tender offers for publicly held company shares (OPA). Changes limited in scope, seek to take into account experience in actual cases. Re submission of OPA by increasing…
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NYSE Contingent Value Rights

On 9 May 2019, NYSE proposed listing rules of contingent value rights. Proposed to expand circumstances under which contingent value right to be listed. Rule Proposal Contingent value rights (CVRs) are unsecured obligations providing for a possible cash payment at maturity based on the price performance of equity (price-based). Or cash payment within a certain…
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E.U. – ESMA MIFID II SI Calculations

On 10 May 2019, EU ESMA issued data for systematic internalizer calculations. ESMA has now published the total number of trades and total volume over the period October 2018-March 2019 for 24,909 equity instruments / for 315,615 bonds. The results are issued only for instruments for which trading venues submitted data for at least 95%…
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