On 20 October 2022, US Treasury released enforcement and penalty guidelines. US Treasury released the first-ever Committee on foreign investment in the US (CFIUS) enforcement and penalty guidelines, in its role as chair of the CFIUS. Provide public information on how CFIUS assesses violations of laws and regulations. Laws, regulations that govern transaction parties, including…
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Rulefinder Alerts for Temporary Short Selling Bans
On 24 October 2022, Rulefinder identified temporary short selling bans in two countries. Effective: Short Selling bans effective 25 October 2022.
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Foreign Direct Investment Third Quarter Snapshot
Following up on my 2nd quarter foreign direct investment review, we’ll pick it up in Ireland which set out a new FDI screening rule like that of the UK. Get the full article
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U.K. – GVT National Security Bill Guide
On 18 October 2022, UK GVT updated the overarching documents relating to the National Security Bill 2022, adding impact assessment for foreign influence registration scheme. Among other things, document set out proposed law's strategic objective, overview. Rationale for intervention; risks; costs, benefits to business calculations; wider impact. Overall aim of the foreign influence registration scheme…
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India – INS Substantial Shareholding Breach
On 14 October 2022, IND INS issued findings on Axis Bank and Max Life shares. IND INS issued two orders in the matter of Axis Bank Limited and Max Life Insurance Co. Ltd, along with other companies in Axis group, for making undue profits or gains. Background Axis Bank had been granted a certificate of…
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U.S. – Short Position Reporting Fine
On 12 October 2022, FINRA reported short position reporting, supervisory failures. FINRA issued letter of acceptance, waiver and consent (AWC) with Scotia Capital (USA) Inc. re short position reporting requirements and supervision violations. Alleged Violations Between July 2012 and June 2019, Scotia erroneously included non-reportable short positions reflected in two omnibus accounts in the firm’s…
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