On 16 August 2023, Rulefinder identified new temporary short selling bans in S Korea issuers. Effective: Temporary short selling bans effective for one trading day on 17 August.
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Taiwan – FSC Issues Consultation to Lower Substantial Shareholding Threshold
On 9 August 2023, TAI FSC published consultation paper on the above amendments. The consultation is open for 60 days, until 11 October 2023. Background: Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%. Shareholders will be able to submit their reports through file uploads on the market observation post system…
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Germany – BaFin Substantial Shareholding Violation
On 10 August 2023, GE BaFin issued €600,000 fine to The Healing Company. GE BaFin imposed a fine of €600,000 on The Healing Company Inc on 15 March, 2023. The Healing Company Inc violated obligations of section 33(1) of German securities trading act (WpHG) by not submitting substantial shareholding notifications in a timely manner. Violations…
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U.S. – Gov’t Limits Foreign Investment in China
On 9 August 2023, White House signed order to limit investment in China. White House issued executive order EO 14105, Addressing United States investments in certain national security technologies and products in countries of concern. Goal to facilitate legitimate cross-border investments while preventing Chinese jurisdictions, including Hong Kong, from exploiting US technological investments. Investment Restriction…
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10 August 2023 – Germany BaFin Fines €600k for Substantial Shareholding Reporting Failures.
Germany BaFin Fines €600K for Substantial Shareholding Disclosure
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Australia – Takeover Panel Revises Guidance on Protections and Control
On 8 August 2023, AST TO Panel revised guidance re deal protection, insiders. AST TO Panel issued revised Guidance note 7: deal protection (previously named Lock-up devices), revised Guidance note 19: insider participation in control transactions. This is the fifth issue as well as third issue of the guidance notes, respectively. Context AST TO Panel…
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