On 22May 2023, AST ASIC said it banned former fund manager for 3 years. AST ASIC said it has banned former Gleneagle Securities fund manager and authorized representative Gregory Tolpigin from providing financial services for three years. Mr. Tolpigin was banned after he was found to have engaged in naked short selling. Follows AST ASIC…
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HK SFC Takeovers and Share Buy-Back
On 19 May 2023, HK SFC proposed revisions on takeovers, share buy-back. HK SFC proposed amendments to the Codes on takeovers and mergers and share buy-backs; aims to codify existing practices of Takeovers executive, clarify re the codes. Consultation Covers topics such as shareholder voting and definition of close relatives, the chain principle, efficiency improvements,…
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22 May 2023 – Australia ASIC Fines for Naked Short Selling
Australia ASIC Fines for Naked Short Selling
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Netherlands – AFM Fines for Late Substantial Shareholding Disclosure
On 11 May 2023, the Netherlands Authority for the Financial Markets (AFM) imposed a fine on Lars Windhorst for failure to report substantial shareholding. Windhorst's substantial shareholding was more than 93% in Fyber N.V., a company listed on the German stock exchange. the AFM fine Windhorst €500,000 for this substantial shareholding reporting failure.
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Sweden – FI Fines for Late Shareholding Disclosure
On 16 May 2023, SWE FI fined SBB for late flagging and missing flags. SWE FI imposed two fines on real estate investment firm Samhällsbyggnadsbolaget i Norden AB (SBB) in relation to late flagging and for missing notification information. Both penalties were imposed under the Financial Instruments Trading Act (1991:980) Late Flagging Fined SEK 750,000…
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18 May 2023 – Kuwait CMA Fines for Failure to Notify Change of Ownership
Kuwait CMA Fines for Failure to Notify Change of Ownership
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