On 14 July 2024, ALG COSOB published guide re major shareholding. ALG COSOB published guidelines on prevention of major shareholding by criminals in companies whose securities are listed on an exchange or are the subject of an offer of securities to the public. Document dated 14 July 2024, received from ALG COSOB on 24 July…
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30 July 2024 – U.K. FCA Fines for Takeover Reporting Failure
U.K. Fines for Takeover Reporting Failure
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Bahrain – EXC Publishes Updated Short Selling Guidelines
On 24 July 2024, BHR EXC published technical short-selling guidelines. BHR EXC announced the launch of Technical (uncovered) short-selling guidelines. Aim to increase liquidity levels, diversify investment and hedging instruments in order to attract new investors, the new guidelines have been approved by BHR CB. Overview The guidelines supplement the existing BHR EXC Market Rules…
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FR – AMF False Information Regarding Takeover
On 23 July 2024, FR AMF issued decision penalizing issuer and 2 directors. FR AMF issued decision of 19 July 2024, imposing €150,000 financial penalty on Parrot for market manipulation breaches, by disseminating false or misleading information. Summary Breach attributed to two of its managers, Henri Seydoux and Gilles Labossière. Henri Seydoux received a €60,000…
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U.K. FB Device Takeover Fraud
On 23 July 2024, UK FB published blog on device takeover fraud. UK FB issued blog article entitled Device takeover fraud: A cheat code for fraudsters, A rising threat for financial institutions, focusing on new type of fraud on the rise in UK. Device Takeover Fraud Device takeover, or DTO fraud, involves fraudster gaining unauthorized…
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Germany – Gov’t Investor Model Procedure Act
On 19 July 2024, GE GVT issued Second Act (OG 240/2024) on reform to the Capital Investors Model Proceedings Act which is a law applicable in civil litigation claims. GE JST issued timeline of Capital Investors Model Proceedings Act, and law passed. Relates to KapMuG re Regional Courts and Higher Regional Court submissions. Includes claim…
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