On 18 July 2024, POL FSA imposed a PLN 4mn fine on Perla Browary Lubelskie for not reporting major shareholding. Main Points Perla had increased its shareholding and vote rights in Przedsiebiorstwo Przemyslu Spozywczego SA (PEPEES), without notifying it or POL FSA, between 2016-2018. The changes in the company's share in the total number of…
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Hong Kong – SFC Updated Takeover Table
On 22 July 2024, the SFC updated its Takeover Table. Offer period for Zhihu Inc. (Stock Code: 2390) commenced on 19 July 2024.
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Canada – CIRO Releases Enforcement Report
On 16 July 2024, CIRO released its annual 2023-2024 enforcement report. CIRO released its 2023-2024 Enforcement Report, underscoring its commitment to investor protection, improving industry standards, and strengthening market integrity. Case Highlights Fortrade Canada fined $2mn for making prohibited recommendations. As order execution dealer, Fortrade violated regulations by providing recommendations. Also failed to maintain a…
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Kuwait – CMA Ifsah-2 Disclosure System
On 15 July 2024, KUW CMA issued circular regarding the transitional period for the mandatory application of the electronic disclosure system in XBRL. Concerns all listed companies, licensed persons, collective investment schemes, investment funds under liquidation, KUW CMA registered auditors and market dealers. Updated version of electronic disclosure system using XBLR launched on 14 July…
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Russia – Gov’t Updated Disclosure Rules
On 2 July 2024, RUS GVT amended significant firms' disclosure regulations. RUS GVT issued decree 569 amending decree 73 on the temporary procedure for disclosing and providing information by business entities that are economically significant organizations and certain other persons. Follows, RUS GVT January 2024, decree on disclosure by significant firms. Summary Economically significant organizations…
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Hong Kong – SFC Updated Takeover Table
On 15 July 2024, the SFC updated its Takeover Table. Offer period for Hing Ming Holdings Limited (Stock Code: 8425) commenced on 12 July 2024.
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