Monthly Archives: February 2018

E.U. – ESMA Advise on Short-Selling

On 22 February 2018, EP ECON issued scrutiny paper on evaluation of short selling. Covered ESMA advice of 21 December 2017, evaluation of Short Selling Regulation. Briefing provides overview of three building blocks of the final technical advice. Market making activities exemption, the short term restriction on short selling in case of a significant decline…
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Finland – FINFSA Afarak Takeover Fine

On 21 February, FINFSA fined Danko Koncar, obliged it bid for Afarak. FINFSA obliged Danko Koncar to launch takeover bid for Afarak Group Plc shares. Alleged Violation FINFSA considered Koncar acted in concert with Hino Resources Co. Ltd, Finaline Business Limited and his spouse Jelena Manojlovic, to exercise control in Afarak. Violated provision of the Securities…
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Italy – Consob Short Sale Valtellinese Update

On 17 February, Consob issued a notice on Credito Valtellinese spa's capital increase. Consob also issued FAQ on highly dilutive capital increases and the rolling model. Capital increase to begin shortly with the right of option on the shares of Credito Valtellinese spa listed on MTA market, organized, managed by Borsa Italiana spa. Increase in…
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India – SEBI Foreign Investor Custodians

On 15 February, SEBI eased requirements for foreign investor custodians. Will ease access for Foreign Portfolio Investors (FPIs), for use of local custodian. Discontinued the requirement for FPI to obtain prior approval from SEBI in case of any change in their local custodian/ Designated Depository Participant (DDP). Registration of Investment Applied to protected cell companies (PCC)…
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