On 11 June 2020, MEX GVT issued draft rules on procedures before registry. Draft to amend rules for management of procedures by electronic means before National Foreign Investment Registry of February 2015 to help contain Covid-19 spread. Overview Regulation presented by Directorate General for Foreign Investment on procedures by electronic means before cited registry so…
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E.U. – ESMA Lowers Short Selling Threshold to .1%
On 11 June 2020, EU ESMA renewed decision requiring holders of net short positions, traded on EU regulated market, to notify NCA if position reaches or exceeds 0.1%. While EU financial markets have partially recovered since 16 March 2020, uncertainty around Covid-19 is potentially threatening their future development and stability. The measure applies from 17…
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Hong Kong – SFC Changes to Code On REITs
On 9 June 2020, HK SFC proposed changes to the code on REITs. Amend code on REITs to provide HK REITs with more flexibility in making investments. Proposed Changes Allows REITs to make investments in minority-owned properties and in property development projects in excess of the existing limit of 10% of gross asset value (GAV).…
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Sweden – FI Fines for Late Major Shareholding Reporting
On 8 June 2020, SWE FI fined Cambridge Global major shareholding reports Cambridge Global Asset Management, CI Investments Inc. fined SEK 25k for failing to report changes in major shareholdings in Byggmax Group AB within the time limit. Sanction issued according to the act on trading in financial instruments (1991:980). Facts An initial notification was…
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Australia – GVT Foreign Investment Reforms in Sensitive Sectors
On 5 June 2020, AST GVT issued foreign investment reforms. Paper outlines a reform package to Australia’s foreign investment review framework. AST GVT will shortly release exposure draft legislation for consultation on the reforms prior to its introduction into Parliament, and provide further guidance for investors. These reforms include measures to strengthen the existing framework…
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Belgium FSMA Late Transactions Disclosure
On 3 June 2020, BEL FSMA settled with firms for late transactions disclosure. BEL FSA agreed settlement of €55,000 between Sopal International SA and Frabelco SA, and a nominative publication on the FSMA website for late reported transactions. Details Mr Francis Lambilliotte was vice-chairman of the board of directors of Hamon & Cie NV from…
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