On 17 July 2023, NOR GVT consulted on group relations in Companies Act. NOR GVT requested input on group relations potential changes in Companies Act. Overview Ministry of Industry wants to survey whether there is need for measures or changes for group relations in the Companies Act. Per feedback, public debate and criminal case that…
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23 July 2023 – U.S. SEC Fines $1M for 13G Reporting Failure
23 July 2023: U.S. SEC Fines $1M for Failure to File 13G
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Belgium – Gvt Foreign Direct Investment Screening Update
On 17 July 2023, BEL GVT published law of 4 July 2023 on the use of the languages of the filtering mechanism established by the cooperation agreement of 30 November 2022 aimed at establishing a filtering mechanism for foreign direct investments. Precisions on the use of French or Dutch re notification of the cooperation agreement.…
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Liechtenstein – FMA Lowered Short Selling Reporting Threshold
On 18 July 2023, LIC FMA updated on lowered notification threshold for net positions. EC reviewed short selling reporting threshold appropriateness, amended Reg 236/2012 (SSR). EU Reg 2022/27 permanently changes the threshold for reporting significant net short selling in shares to competent authorities from 0.2% to 0.1%. Art 5(2) Reg 236/2012 replaced: reporting threshold is…
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Poland – FSA Substantial Shareholding Disclosure Ruling
On 17 July 2023, POL FSA announced Provincial Administrative Court dismissed Daniel Mzyk's complaint against its decision of March 2018. Case was returned to Provincial Administrative Court after the Supreme Administrative Court in Warsaw accepted cassation appeal filed by Daniel Mzyk on 28 July 2022. Fine of PLN 1,000,000 imposed for failing to notify POL…
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Thailand – SET Accurate Disclosure Reminder
On 14 July 2023, Thai SET reminded companies to disclose complete data. Thai SET requested listed companies to pay closer attention to the disclosure of information in their financial statements and ensure it is accurate and complete. Especially statements that are disseminated through Thai SET's information system. Background The advice follows several discrepancies found in…
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