On 11 March 2022, SEC issued extension of info collection identical to 27 January 2022. Comments on collection due 30 days from publication of extension, by 10 May 2022. Background: SEC issued a notice requesting comments on revisions to Form 13F, for institutional investment managers to file a report with SEC if they exercise investment…
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Luxembourg – New Portal for Major Shareholdings Disclosures
On 4 March 2022, LUX CSSF issued details of launch of new web platform for filing major shareholdings disclosure reports. LUX CSSF issued a communication on the launch of eRIIS, a new web platform for all entities that are subject to the Transparency Law, as well as Market Abuse Regulation. Follows LUX CSSF January 2021…
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India – SEBI Takeover Disclosure Requirements
On 7 March 2022, IND SEBI updated on the system-driven disclosures. IND SEBI updated on automation of disclosure requirements under SEBI (substantial acquisition of shares and takeovers) regulations, 2011- system-driven disclosures. Encumbered Shares To streamline capture and dissemination of the information related to encumbrances and thus bring in more transparency, SEBI has consulted with the…
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Australia – ASIC Rio Tinto Disclosure Breach
On 7 March 2022, AST ASIC confirmed the firm had breached disclosure laws. AST ASIC confirmed Rio Tinto Limited had been found by AST Court to have breached the continuous disclosure law requirements as set out in the Corporations Act 2001. Follows AST ASIC March 2018 action vs. Rio Tinto, and ex-CEO, CFO. Background In…
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U.S – SEC Short Selling Disclosure Reporting
On 16 March 2022, the SEC issued proposal in federal register, comments by 26 April 2022. Background: On 25 February 2022, the SEC proposed to enhance short selling disclosure reporting. Proposed Rule 13f-2 and Proposed Form SHO Rule 13f-2 designed to provide greater transparency via publication of short selling data. By requiring manager to…
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India – FIA Short Selling Gvt Securities
On 4 March 2022, IND FIA updated on eligible liquid securities for March 2022. Background: As per RBI guidelines, banks/PDs can short sell eligible IND GVT securities up to the regulatory limit, which is 2% of the outstanding stock or INR 500 Cr for liquid. Or 1% of the outstanding stock or INR250 Cr whichever…
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