On 21 January 2021, ITA Consob issued discussion paper on takeover bids. ITA Consob published discussion paper on Takeover Bids in ITA in period 2007-2019. Overview Study is focused on impact of Takeover Bids Directive on the Italian capital market. Analysis of takeover and exchange bids launched in Italy between 2007 and 2019. Brief historical…
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Russia – CB Shareholder Notification Procedure
On 20 January 2021, RUS CB issued rules on unified form of share notifications. RUS CB issued rules to establish a unified procedure, terms and form of notification on acquisition and disposal of shares and stakes in a number of financial organizations. Procedure Shareholders must send such notifications to financial institutions and RUS CB in…
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Italy – CB Qualified Shareholding Process
On 20 January 2021, ITA CB issued draft rules on qualified shareholdings. ITA CB draft new provisions on identification information, documents to be submitted for authorization request re acquisition of qualifying holdings in banks, intermediaries. Falling under art 106 of TUB; electronic money institutions (IMEL); payment entities (IP); investment managers (SGR) and certain investment UCITS…
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India – SEBI Capital, Disclosure Rules
On 19 January 2021, IND SEBI extended the relaxation issued on 6 May 2020, applicable for rights issues up to 31 March 2021 provided the issuer complies with conditions.
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Sweden – Issuer Rules and Takeovers Changes
On 15 January 2021, Nasdaq OMX announced changes to Swedish takeover rules. On 1 December 2020 Swedish Corporate Governance Board, responsible for said rules, published proposal to make changes to Takeover Rules for regulated markets in SWE. Takeover Rules are incorporated into Issuer Rules by reference in supplement for Nasdaq Stockholm; version to be supplemented…
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Sweden – FI Fines for Late Disclosures
On 15 January 2021, Sweden's regulator, Finansinspektionen has fined two firms for late shareholding disclosure in Nordic Flanges Group AB. Both Brax Investments and Bees Invest will pay SEK 2,400,000.
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