On 30 September 2024, the SEC's new reporting regime for SEC Schedule 13G becomes effective. Filings Deadlines: QIIs & Exempt Investors: 45 days after calendar quarter in which substantial shareholding exceeds 5%. Passive Investors: Within 5 business days after acquiring substantial shareholding of more than 5% [Rule 13d-1(c)]. Amendments: All 13G Filers: Within 5 business…
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Australia – Platinum AM Refuses Takeover Bid
Bloomberg reports that Sydney-based funds manager Platinum Asset Management has refused a takeover proposal from hedge fund Regal Partners Ltd. bid undervalued company at $359m offering from Regal Platinum's board unanimously concluded that the proposed deal was “not in the best interest of Platinum shareholders,” at least “in its current form.” Platinum has struggled with outflows…
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U.S. – SEC Settles Short Selling Case Against HK IA
On 23 September 2024, SEC reported settlement re public offering, short sale. SEC reported settled charges against Centerline Investment Management Limited, a Hong Kong, China-based investment adviser, for violating an SEC short selling trade rule. Purchased stock in public offering of securities for advisory client after effecting short selling in same stock for advisory client…
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Hong Kong -SFC Takeover Table Updated
On 25 September, the SFC updated its Takeover table to reflect the closure of offer period for Hang Pin Living Technology Company Limited (stock code: 1682). Effective Date: Takeover offer period closed on 24 September 2024.
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U.S. – SEC Fines 11 Investment Managers for Major Shareholding Reporting Failures
On 17 September 2024, SEC charged 11 investment managers with major shareholding filing failures. SEC charges 11 investment managers with failing to report major shareholding. Two of the firms were also charged with failing to report large trader transactions. Involved Parties Orders filed against Ashton Thomas Private Wealth, LLC, Azzad Asset Management, Inc., Bulltick Wealth…
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U.S. SEC – Fines For Illegal Short Selling
On 19 September 2024, SEC settled charges re Rule 105 short selling violations. SEC settled with Gates Capital Management, Inc. re Rule 105 short selling violations. Bought stock in securities offering for fund clients after shorting same for fund clients. Alleged Violations 30 August through 1 September 2023, Gates Capital sold short 90k ROL shares…
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