Monthly Archives: September 2017

New Zealand – Guidance on Subtantial Shareholding

On 27 September, NZFiMA issued guidance on substantial shareholdings. Following consultation in June, this guidance updates prior version from 2014. To assist substantial product holders in understanding obligation, consistency. Aims Inform market participants about findings from the review of disclosure notices. Submitted by people with substantial holdings in listed issuers, stated concerns. Remind SPHs of…
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U.K. – FCA Commodity Issue Limit Guide

On 26 September, FCA issued guide on commodity position limit exemption. Covers exemption for non-financial entities from commodity derivatives position limit. The form is used to understand how NFE is using commodity derivative to reduce risks. NFE should only apply for exemption when it trades derivative as part of its business. Cannot apply for the…
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Netherlands – AFM Fine Bank Trade Report

On 20 September, AFM fined ABM Amro Bank, Clearing for trade reports. In July 2017, imposed 2 administrative fines of €400k and €500k on ABN Amro. Fines were imposed because banks failed to notify transactions to AFM in time. Constituted violation of S, 4:90e(3) of the Financial Supervision Act, that firms performing transactions in listed…
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India – SEBI Position Limits

On 13 Septemebr,  SEBI clarified position limit on OTC currency derivative. Brokers to ensure that positions created in FCY-INR pairs are within position limit. Following currencies are involved: USD-INR, EUR - INR, GBP - INR and JPY - INR. Single INR position limit for bank brokers higher of 15% total OI pairs, or $200m. For…
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