On 31 August 2022, CZC PRL issued act amending act on beneficial owners. CZC PRL issued Act amending Act no. 37/2021 coll., on the registration of beneficial owners, amending various definitions of the ultimate ownership and control of firms. Follows CZC GVT January 2022 updated documents for beneficial owners. Amendments Act contains changes to wording,…
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S Korea – FSC Small-scale Fund Disclosure
On 30 August 2022, SK FIA published amended enforcement rules of regulations on financial investment business, to delete the disclosure form for small-scale funds. SK Law Center also published updated detailed regulations of the regulations on financial investment business, which takes effect from 30 August 2022.
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S Korea – FSC Foreign Major Shareholders
On 25 August 2022, SK FSC proposed revisions re foreign major shareholders. SK FSC proposed amendments to regulations on financial investment business, to allow foreign shareholders to justify penalty history, reduce impact on credit rating. Amendment Permitted controlling foreign corporate shareholders, as is with domestic substantial shareholders, to add extenuating circumstances for their historical penalty…
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