On 15 November 2024, CHI CSRC took over Hehe Futures for governance fails. CHI CSRC took over Hehe Futures Co Ltd from 15 November 2024 to 14 November 2025, due to severe governance issues and loss of management control that pose significant risks. A takeover team has been formed to operate Hehe Futures during the…
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S Korea – FSS Investment Briefing Re: Short Selling
On 14 November 2024, SK FSS held an investment briefing in Hong Kong. SK FSS held an investment briefing in Hong Kong along with local governments and the financial sector, in order to explain the advancement of the Korean capital market. Follows SK FSC May 2024 issued plan for alternative trading system. Briefing Highlights SK…
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Hong Kong – SFC Sanctions for Takeover Code Violation
On 15 November 2024, the Securities and Futures Commission (SFC) publicly censured Ms Zuo Ping for breaching the mandatory general offer obligation under the Takeovers Code. Background Publicly censured and imposed a six-year cold shoulder order against Ms Zuo Ping Zuo made a number of acquisitions and disposals of shares in CBK Holdings Limited (CBK)…
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Denmark – Gvt Competition Act RE: Takeovers
On 12 November 2024, DEN GVT promulgated Competition Act, LBK 1150 of 3 November 2024. With amendments from Act 2601 of 28 December 2021 and Act 638 of 11 June 2024. Act does not apply to mergers where a merger agreement has been concluded, a takeover offer has been published or a controlling share has…
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Brazil – CVM Relaxes Shareholding Restrictions
On 11 November 2024 BRZ CVM issued rules to relax shareholding restrictions. BRZ CVM issued Resolution 220 to amend Resolution 135 by increasing limit that stock market participants can hold in the voting shares of entity managing stock exchange. Follows BRZ CVM June 2022 Res 135 re securities market operations. Overview The shareholding limit increase…
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18 November 2024 – Poland Fines for Substantial Shareholding Failures
Poland Fines for Substantial Shareholding Failures
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