Monthly Archives: October 2021

Guernsey – Sensitive Sector Changes to Banking Supervision Laws

On 19 October 2021, GUE GFSC issued an update on banking supervision laws. GUE GFSC published a consolidated version of Banking Supervision (Bailiwick Of Guernsey) Law 1994, including details of amendments made to the 1994 law. Changes definition of "Shareholder Controller", addressing applicable thresholds for protected cell companies (PCC) Effective These changes become effective 1…
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Greece – HCMC Fines for Late Position Reporting

On 18 October 2021, GRE HCMC issued fines for late position reporting, best execution. The GRE HCMC Board of Directors during its 933rd meeting decided on two fines. Optima Bank Imposed a fine of €10,000 on OPTIMA BANK (former Investment Bank of Greece SA). For violation of the provisions of article 27 par. 1 of…
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Netherlands – AFM MiFID Market Data Guidelines

On 18 October 2021, NLD AFM compliance with ESMA market data guidelines. NLD AFM announced compliance with ESMA guidelines for MiFID2/MIFIR market data. Follows ESMA August 2021 translated guidelines on MiFID II/MiFIR duties. Overview Guidelines will ensure better and uniform application of the MiFID II/MiFIR obligations. The guidelines apply to national competent authorities, trading venues,…
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China – BIRC Finalized Measure for Major Shareholder Supervision

On 14 October  2021, CHI CBIRC finalized measures for major shareholder supervision. Requires banking and insurance institutions to strengthen management of equity and related-party transactions by shareholders, to prevent abuse of shareholder rights. Clarifies responsibilities and obligations of major shareholders in risk disposal, information reporting, capital supplementation, and shareholder rights negotiation. Measures take effect immediately.…
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