On 25 October 2022, MEX DP published beneficial owner data requirements. MEX DP published agreement through which the minimum essential information on beneficial owners was approved, which will serve as criteria for its disclosure. Background In June 2018, reforms to the General Law of Commercial Companies were published. Requiring corporations and limited liability companies submit…
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Netherlands – Govt Beneficial Owner Register
On 1 November 2022, NLD GVT said administrators of trusts, mutual funds, similar structures must register ultimate beneficial owners (UBOs) in register as of 1 November. UBO register for trusts and similar legal structures provides more transparency. Only the trustee of a trust, or person with comparable position in a similar legal construction as a…
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Rulefinder Alerts to Temporary Short Selling Bans
On 3 November 2022, Rulefinder alerted to temporary short selling bans in two countries. In Turkey, there were new and extended short selling bans. In Korea, there were new temporary short selling bans for one-day of trading. Effective: Temporary short selling bans are effective 3 and 4 November 2022 respectively.
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Norway – GVT Foreign Investment Security
On 28 October 2022, NOR GVT launched foreign investment security review. NOR GVT appointed a committee to investigate whether there is a need for increased control of foreign investments and other economic activity to protect national security. Screening mechanism has been in development since Security Act was force in 2019. This mandates notification of changes…
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U.K. – GVT Royal Mail Share Acquisition
On 31 October 2022, UK GVT decided no action on the takeover / acquisition by Vesa Equity. UK GVT decided to take no further action under its national security powers on the proposed increase in shareholdings by Vesa Equity Investment in Royal Mail. Proposed acquisition of increased shareholdings in Royal Mail had been called for…
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