On 16 April 2021, UKP announced Lords completed report stage on 15 April 2021. Members discussed changes on topics including the risk to national security posed by climate change and guidance for the higher education and research sector. Voted for minor change to Secretary of State providing further information on regime decisions, in annual report…
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Croatia – HANFA Failure to Report Takeover Bid
On 15 April 2021, CRO HANFA made decisions on issuer enforcement action. CRO HANFA decided on order re a takeover bid, measures re market manipulation. Findings 1 Two individuals and PIK-ESOP failed to make a public announcement on a takeover bid when their combined shareholding exceeded 25% of the share capital of PIK d.d. Should…
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Hong Kong – SFC Fines Optimas Capital for Short Selling
On 15 April 2021, HK SFC fined Optimas Capital due to short selling reporting failures. HK SFC has reprimanded Optimas Capital and fined it HKD1.05mn over failures. It did not ensure short position reports (SPRs) for a collective investment scheme (CIS) under its management were accurate and compliant with the requirements. Investigation An SFC investigation…
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S Korea – FSC Short Selling Exceptions
On 15 April 2021, SK FSC chairman Eun Sung-soo met with securities companies and spoke on preparatory measures for partial resumption of stock short-selling on 3 May 2021. SK GVT has been operating a response team to root out illegal and unfair marketing or advising practices in markets, prevent inappropriate activities, improve regulations. Of four…
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Denmark – FSA Major Shareholding Disclosure Form
On 12 April 2021, DEN FSA issued report on errors in use of standard form. DEN FSA issued a report on the use and completion of the new standard form for major shareholding reporting, which was introduced on 8 October 2019, and is subject to mistakes. Overview DEN FSA examined how many major shareholders reported…
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Norway – Gov’t Foreign Shareholders
On 9 April 2021, NOR GVT issued rules for transparency and participation. NOR GVT proposed new rules to increase transparency about foreign owners of shares in Norway, and increased opportunities for foreign shareholders to attend meetings. Background In 2019, around 40% of the share values on the Oslo stock exchange were owned by foreign investors,…
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