On 29 November, 2019, NLD GVT, NLD SJ said most of law will be in force on 1 December 2019. From date of implementation, a remuneration report for the 2019 financial year must be prepared for the first time in 2020 and submitted to the General Meeting, even if no new remuneration policy has been…
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Japan – TSE Protect Minority Shareholders
On 29 November 2019, TSE set up study group on quasi-controlled listed firms. TSE established a study group to review the protections for minority shareholders. In light of recent events and impact on framework of quasi-controlled listed firms. Scope of Group The study group will discuss such matter as managing shareholder conflict of interest. Including…
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Brazil – GVT Foreign Investments Rules
On 28 November 2019, BRZ GVT issued rules re funds of non-resident investors. Resolution 4,761, of 27 November 2019 on rules for investments of non-residents in Brazil. Overview Amends annex II to resolution 4,373 of 2014 on investments of non-resident investors in Brazil’s financial and capital markets, mainly its arts 2.I, 2.III, 2.IV, 3, 4,…
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Philippines – SEC R&L Investment Takeover
On 15 November 2019, PHI SEC ordered CMIC takeover of R&L Investments. Ordered Capital Markets Integrity Corporation (CMIC) to take over the operations of R&L Investments, to protect affected customer accounts on 14 November 2019. Following the stock brokerage’s collapse allegedly due to unauthorized transfers of proprietary, client shares worth about P700mn into an account…
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Temporary Short Selling Ban Effective Today
Rulefinder reports a temporary short selling ban effective today.
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Thailand – SEC Major Shareholder Approval
On 13 November 2019, Thai SEC issued guidelines on submitting requests. Guide to submission of certification form for obtaining approval as a major shareholder. For those who become major shareholders of derivatives business, securities company. Followed notification 54/2562 of 23 July 2019, regarding requests for approval. Accompanied by form 90/91-1/AP25-1, Form 90/91-2/AP25-2, Form 90/91-3/AP25-3.
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