On 8 September 2020, FRA amended executive regulations of capital market law. FRA issued Prime Minister’s decree No. 1760 of 2020, amending executive regulations of the capital market law No. 95 of 1992 re purchase offers for purpose of takeover/acquisition. Provided new acceptable forms of sukuk; flexibility for real estate investment funds. Removed certain concentration…
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Sri Lanka – CB Sensitive Sector Bank Ownership
On 8 September 2020, SRI CB issued amendment on ownership of issued capital. SRI CB issued amendments to banking act directions No.1 of 2007 on ownership of issued capital carrying voting rights for licensed commercial banks. Ownership of Shares Board may give permission to categories of shareholders to acquire A material interest up to 15%…
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Changes in Foreign Direct Investments – Part II
As a follow up to the blog published on 8 June, foreign direct investment oversight continues with several countries...full article.
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France – AMF Enforcing Ban on Short Sales
On 7 September 2020, FR AMF updated guidance page on the EU regulation on short selling. Including updated excel file containing the history of net short positions made public.
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U.K. – CMA Foreign Direct Investments
On 7 September 2020, UK CMA proposed guidance on its powers and procedures. UK CMA issued consultation on proposed guidance setting out powers and procedures used in cooperation mechanisms under EU foreign direct investments (FDI) regulation. FDI Regulation Creates a cooperation mechanism within the EU for exchange of information on an FDI. In relation to…
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New Zealand – Extends Foreign Investment Measures
On 1 September 2020, NZ GVT retained temporary investment screening rules. NZ GVT announced it would keep emergency notification regime in the overseas investment act 2005 for 90 more days to protect New Zealand’s national interest. Follows NZ GVT May 2020, updated foreign investment screening rules. Background Introduced June 2020, to manage heightened foreign investment…
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