On 10 October 2019, IND SEBI published depository receipts issue framework. Only a company incorporated in India and listed on a recognized stock exchange may issue permissible securities (PS) for the purpose of issue of depository receipts (‘DRs’). Listed Company Obligations Companies shall ensure that DRs are issued only with PS as the underlying. DRs…
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Portugal – CMVM Securities Code In English
On 10 October 2019, POR CMVM issued copy of securities code in English. Securities code in English incorporating the most recent legislative changes in force. However, this does not dispense with the requirement to consult the official version. Translated version is an important step in providing legislative, regulatory information to economic agents, foreign entities operating/intend…
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Netherlands – SJ Shareholder Involvement
On 9 October 2019, NLD GVT issued memo regarding the shareholder involvement bill. Answers a questions regarding the concepts of asset manager / institutional investor.
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E.U. ESMA MIFIR Data Reporting FAQ
On 7 October 2019, EU ESMA issued updated FAQ document on MiFIR data reporting. Part 21, Transaction Reporting, Q2, on national client identifiers for natural persons provides an update on how different identifiers specified in annex II of RTS 22 are represented, relating to new provisions for Portuguese and Romanian identifiers. New Part 17, FX…
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Thailand – SEC Investment Regulations
On 8 October 2019 Thai SEC proposed changes on investment transactions. SEC is preparing rules for investors to buy, sell investment units more conveniently. To enable the public to have access to and use the Thai capital market for savings and investments, SEC is making proposals to create opportunities and reduce limitations. By leveraging advances…
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Brazil – CVM Registering Investment Fund
On 2 October 2019, BRZ CVM repealed specific rules re investment funds. BRZ CVM issued instruction 615 repealing specific rules for investment funds. Overview Amends, repeals provisions dealing with registration at securities registry, other regulations governing investment funds, detailed in instruction itself (12 items). Circular 11/2019/CVM/SIN disseminating information re instruction issued also. As per law…
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