On 30 December 2024, the SFC published its monthly Takeover Bulletin. Highlights include: New email address for submissions to the Takeovers Team Cold shoulder order against Zuo Ping for breaching the mandatory general offer obligation Rule 22 submissions: Aggregation of same-day, same-price trades and presentation of non-HKD currency-denominated trades Quarterly update on Takeovers Team activities
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Netherlands – AFM Fines for Market Manipulation
On 20 December 2024, NLD AFM fined VDVI 3mn EUR for market manipulation. NLD AFM fined VDVI BV a financial holding firm 3mn EUR for market manipulation. Misconduct VDVI BV is primarily engaged in the purchase, development, exploitation as well as sale of real estate which artificially increased the price of a listed equity fund.…
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U.S. SEC – Fines IA for Short Selling Against Clients
On 20 December 2024, SEC settled with IA for short selling against its clients. SEC reported it charged Honk Kong IA Snow Lake Capital Ltd for trading rule violation. IA purchased equity securities on behalf of its advisory clients from an underwriter or B/D participating in follow-on offering, after short selling same securities days before.…
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S Korea – FSC Fines 2 Global Banks for Naked Short Selling
On 18 December 2024, Bloomberg reported that the FSC has fined barclays Plc and Citigroup, Inc. for naked short selling. Barclays was fined 13.7 billion won ($9.5 million) Citi was fined 4.7 billion won ($3.2 million) by the Securities and Futures Commission Short selling is banned in S Korea through 30 June 2025
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Nasdaq Nordic Exchange Traded Notes
On 17 December 2024, Nasdaq Nordic issued rules for issuers of ETN products. Nasdaq Nordic issued Nasdaq Helsinki Regulated Market Rulebook for Issuers of Exchange Traded Notes, with specific requirements for a financial instrument to be admitted to trading at the Exchange and rules on issuer disclosure requirements. Overview Nasdaq Helsinki Ltd published a new…
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Hong Kong – Exchange Launches Data Marketplace
On 18 December 2024, HKEX introduced a web-based HKEX data marketplace. HKEX introduced web-based HKEX data marketplace to improve access to historical and reference data; features a modern interface as well as multiple delivery channels. Including cloud transfer, along with direct data access for enhanced user convenience. Scope HKEX explained that the initial offerings include…
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