On 11 December 2023, UK Takeover Panel issued 14th edition Code, other updates. UK Takeover Panel issued 14th edition of Takeover Code and amended practice statements. Follows UK Takeover Panel October 2023 issued RS 2023/1 and changes to code. Updated Code Amendments incorporated into Code 14th edition result from consultation PCP 2023/1, entitled Review of…
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U.S. – SEC’s Short Selling Rule Being Challenged
On 12 December 2023, it was reported that three hedge fund associations have sued the SEC in an attempt to vacate two new rules aimed at boosting transparency of short selling. Claims from Associations: MFA, AIMA, and NAPF claim the SEC took conflicting stances with the rules. Allowing transaction reports to be aggregated to protect…
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S Korea – FSC Violation of Shareholding Reporting Duty
On 7 December 2023, SK FSC proposed revisions re capital markets investigation. SK FSC proposed revisions to the Regulations on the capital markets investigation. Revisions Where a reporting duty such as on substantial shareholding is intentionally violated, resulting in material consequences, a penalty surcharge will be imposed in principle, as in the case of violating…
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Sweden – Nasdaq Nordic Updates Takeover Rules
On 6 December 2023 Nasdaq Nordic updated rules for Stockholm, Growth Market. Takeover rules for Nasdaq Stockholm and Nasdaq First North Growth Market Sweden. Takeover Rules Updated takeover rules for regulated markets and the takeover rules for certain trading platforms, administered by Swedish Stock Market Self-Regulation Committee. The takeover rules for regulated markets and the…
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S Korea – FSS – Corporate Disclosure Briefing
On 5 December 2023, SK FSS issued plan to hold corporate disclosure briefing. SK FSS issued a plan to hold briefing sessions on corporate disclosure. Aims to ensure that important corporate information is faithfully provided to the market by improving understanding of employees responsible for corporate disclosure. Briefing Sessions SK FSS has held briefing sessions…
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Malaysia – BML Updated Short Selling List of Securities
On 1 December 2023, MLY BML updated the short selling approved securities list to include 33 new approved securities and removed five existing approved securities from the list. The updated short selling list of approved securities will be effective from 15 December 2023.
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