On 31 July 2020, AST GVT consulted on exposure draft of foreign investment reform. Issued Foreign investment reform (protecting Australia’s national security) bill 2020. Bill gives effect to major reforms to the Foreign acquisitions and takeovers act 1975. Exposure draft bill includes provisions for new national security powers, integrity and technical amendments, and provisions that…
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E.U. – ESMA Net Short Position Threshold
On 30 July 2020, EU ESMA issued decision 2020/1123 of 10 June 2020, on renewal in OJ.
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E.U. – ESMA Advice on Use of Short-Selling
On 31 July 2020, EU ESMA issued updated list of market makers and authorized primary dealers using the exemption in the regulation on short selling and CDS.
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India – SEBI Disclosure Takeover Stakes
On 27 July 2020, IND SEBI said relaxations are further extended and shall be applicable for open offers and buy-back through tender offers opening up to 31 December 2020. Background On 1 July 2020, IND SEBI released (substantial acquisition of shares and takeovers) (third amendment) regs, 2020, which enter to force on publication in official…
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U.S. – Treasury FIRRMA Foreign Investment
On 28 July 2020, final rule clarified revision to principal place of business definition. Final rule removes and investments; word activities is inclusive of investments; thus, directing and managing investments made by investment fund captured by activities. Adopted the interim rule establishing a fee for parties filing a formal written notice of a transaction for…
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Singapore – MAS Fund Disclosure Practices
On 27 July 2020, SIN MAS issued good practices for actively managed funds. Sets out good disclosure practices for actively managed funds, re investment objective and extent to which portfolio deviates or can deviate from reference benchmark. Highlights findings from a thematic review on more than 100 equity funds with active management mandates offered by…
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