On 26 October 2018, IIROC issued consolidated short position reports (CSPR). CSPR provide aggregate short position of all listed, quoted securities as of 15th, last day of each month on IIROC-submitted data by members, access persons. Follows IIROC Mar. 2018 notice on short position calculation, reporting. Content of Report To include security name, symbol, listing…
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S Korea – FSC Fines GS Subsidiary $6.7m for Short Selling Breach
On 28 November 2018, the Financial Services Commission of South Korea fined a subsidiary of Goldman Sachs Group $6.7m for naked short selling which is illegal in the country. The FSC said the fine was imposed for violating the local rules that ban financial institutions from making a sell order without borrowed stocks. The fine levied…
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Portugal – CMVM Disclosure Requirements
On 26 November 2018 CMVM issued rules for disclosure requirements. CMVM regulation amending the disclosure requirements in regulation no 5/2008. Due to amendments introduced to Securities Code by Decree-Law no. 22/2016. Overview Changes introduced on disclosure of facts re publicly-held companies, disclosure of qualifying holdings, definition of content, and quarterly financial information. As well as…
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Hong Kong – SFC Takeovers Table Updated
On 23 November 2018, the SFC updated its takeovers table to reflect a new commencement period for Tourism International Holdings Limited (Stock Code: 1626).
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Hong Kong – SFC Takeovers Table Updated
On 16 November 2018, the offer period for Universe Entertainment and Culture Group Company Limited (Stock Code: 1046) and the offer period for Natural Beauty Bio-Technology Limited (Stock Code: 157) was closed.
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E.U. – ESMA Short Selling FAQs Updated
On 14 November 2018, EU ESMA updated FAQs on short selling regulation implementation. New Q4.10 clarifies that identification of relevant competent authority, following entry into application of MiFIDII/MiFIR is no longer made under Commission reg 1287/2006. But under del reg 2017/590 for the reporting of transactions to competent authorities.
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