On 21 September 2023, HK SFC published consultation conclusions, adopted all proposals. Changes include revising the definitions of important terms, streamlining takeover processes to enhance efficiency and introducing green initiatives to reduce the carbon footprint. Amended codes will be gazetted on 29 September 2023 and then take effect immediately. Background: HK SFC proposed amendments to…
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22 September 2023 – U.S. SEC Fines for Improper Short Selling
U.S. SEC Fines Citadel Securities for Improper Short Selling
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Finland – Gvt Public Register for Substantial Shareholding
On 19 September 2023, FIN GVT discussed adding substantial shareholding to public register. FIN GVT requested responses on report investigating whether information of registered shareholders of listed companies could be made available in the public register. Background Report was based on the program of the previous government and the action program for the fight against…
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S Korea – Rulefinder Alerts to New Temporary Short Selling Bans
On 21 September 2023, aosphere's Rulefinder solution alerted to new temporary short selling bans in S Korea issuers. Effective: Short selling bans are in effect for said issuers for one trading day on 22 September.
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Australia – GVT Continuous Disclosure Review
On 19 September 2023, AST GVT opened review re continuous disclosure regime. AST GVT opened a review of the 2021 amendments to continuous disclosure regime, as is required pursuant to ASTCA s 1683B, and published related Terms of reference. It said this review is required to be conducted from 14 August 2023 and must be…
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China – CSRC Fines for Failure to Report Substantial Shareholding
On 15 September 2023, CHI CSRC updated illegal substantial shareholding reduction case. CHI CSRC update the investigations on OLO Home whose controlling shareholders have violated the relevant regulations regarding substantial shareholding reductions. Follows CHI CSRC August 2023 further regulated substantial shareholding reductions. Investigations In 2021, Fan Yi and his concerted parties purchased 5% of the…
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