On 29 September 2021, EU CMSN issued draft delegated regulation replacing the annex to regulation 2019/452 establishing framework for foreign direct investment screening. Screening regulation requires EU CMSN to update the list of projects and programs in regulation remit, the update will take into account developments since June 2020. New delegated regulation notes the projects…
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E.U. – Commission Adopts 0.1% Short Selling Threshold
On 27 September 2021, EU CMSN adopted regulation regarding the notification threshold. Article 1 amends Article 5(2) of the Short Selling Regulation by setting the threshold for notification to competent authorities of significant net short positions in shares to 0.1 % of issued share capital of the company concerned, and each 0.1 % above that.…
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E.U. – ESMA Issues Consultation on Short Selling Regulation (SSR)
On 24 September 2021, EU ESMA issued consultation to review short sale rules. ESMA published a consultation on the review of the short selling regulation (SSR). Follows ESMA March 2021 confirmed it will not renew decision that net short positions holders, traded on EU market, must notify NCA if position reaches 0.1%. Follows ESMA May…
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E.U. – ESMA Updated Links to Short Selling Disclosure Sites
On 24 September 2021, ESMA updated links to net short position disclosure sites. ESMA issued updated document listing links to national websites where procedures for notification of net short positions under short selling regulation (SSR) are explained. This information is provided to assist with SSR requirements to notify competent authorities and to publicly disclose net…
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France – Changes to Foreign Investment
On 22 September 2021, FR GVT issued order amending rules on foreign investment. FR GVT published order of 10 September 2021 relating to foreign investments in France. Follows FR GVT decree, order on procedures for investments in France. Made following entry in force of EU regulation on screening foreign direct investments. Made further amendments to…
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U.K. – GVT Perpetuus China Takeover
On 22 September 2021, UK GVT issued correction slip so in article 4(b): ...ordinary course of business, course of business, no... should read ...ordinary course of business, no... Background On 7 Septemebr 2021, UK GVT issued rules on proposed Chinese takeover of firm. UK GVT issued public interest merger reference (Perpetuus Advanced Materials plc) (pre-emptive…
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