On 2 November 2021, POR CB announced notice 6/2021 was published in official journal. Notice regulates the elements and information that must be communicated under the procedures relating to the acquisition, increase or decrease of qualifying holdings. Revokes Notice 5/2010, rules relate to the general framework for credit institutions. Also re financial companies, legal framework…
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New Zealand – OIC Overseas Investment Changes
On 29 October 2021, NZ OIC updated on preparations for final Overseas Investment Act law reform changes, while staying on top of business-as-usual consent applications. October 2021 issue of Panui discussed: benefit to New Zealand test changes; new assessment timeframes; law reform resources; and notification when forms change. Plus assistance in understanding overseas investment rules…
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Italy – CB Qualified Shareholding in Banks
On 28 October 2021, ITA CB announced rules on qualified shareholding in banks, IMEL. Update information and documents to be sent to ITA CB by anyone who intends to acquire a qualified stake in intermediary (cited above), implements relevant EU law. In line with guidelines of EU authorities; at the same time simplify legislation. In…
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Sweden – Fines for Late Transactions Reporting
On 28 October 2021, the Swedish regulator, Finansinspektionen fined Intergiro Intl AB (publ) SEK 8 million for belatedly notifying transactions with shares in Quickbit eu AB (publ).
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