On 13 January 2020, US Treasury released two final regulations to implement changes FIRRMA made to CFIUS’s jurisdiction, processes; effective on 13 February 2020. Both regulations include interim rule on new definition for principal place of business. US Treasury seeks comments on interim rule; must be received by 18 February 2020.
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Taiwan – FSC Disclosure of Information
On 13 January 2020, TAI FSC issued rules on information to be disclosed. Public companies are to report and upload to the Market Observation Post Station (MOPS) matters that should be announced or disclosed in accordance with law. Information to be Disclosed Equity information; treasury shares; financial information and internal control; solicitation, issuance and private…
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Singapore – SGX Quarterly Reporting, Disclosures
On 9 January 2020, SGX adopts risk-based approach to quarterly reporting. Apply quarterly reporting (QR) requirements only for companies associated with higher risks while strengthening continuous disclosure requirements on all listed companies. Set out expectations on companies’ handling of material information, and established whistleblowing office to address tipoffs, feedback, complaints and short-seller reports. Quarterly Reporting…
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China – Foreign Investment Law Update
On 9 January 2020, CHI NDRC answered reporters' questions on foreign investment law. Answered why implementation regulations have to be concurrently implemented with law; rationale and consultation process behind formulating implementation regulations. Spoke about areas in which implementation regulations help to promote, and details of investment protection regulations that are of great concern to foreign…
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China – PRL Foreign Investment Law
On 6 January 2020, CHI NDRC published interpretations of the foreign investment law. Elaborated on provisions of the law, purpose, background, 5 year transitional period. Promulgation of foreign investment law and its implementation regulations is the result of the continuous reform of the foreign investment management system in China. Creating fair-competition business environment is main…
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E.U. – ESMA SFTR Reporting Guide and LEI
On 6 January 2020, ESMA issued report, guide, clarified SFTR reporting rules. ESMA published final report, guidelines on SFTR reporting together with amended validation rules and a statement on the use of legal entity identifiers (LEI). Follows ESMA May 2019 proposed guidance on finance transactions. Follows ESMA October 2019 issued validation rules, xmls for SFTR…
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