On 1 October 2024, Thai SEC proposed rules re short selling and long sale transactions. Thai SEC proposed revision of regulations for securities trading services and short selling securities when securities companies do not yet have the securities in their possession. Addresses increasing volume of foreign investor trading through Thai securities firms, ensuring these firms…
Read more
Hong Kong – SFC Fines for Failure to Notify of Shareholding Structure
On 30 September 2024, HK SFC fined Profitech Securities Limited HKD 3.99mn. HK SFC reprimanded and also fined Profitech HKD 3.99mn for regulatory breaches. Key Breaches Failed to maintain liquid capital of HKD 3mn between February - June 2021, since July 2022. Improperly repledged client securities collateral without valid client standing authority. Failed to ensure…
Read more
Austria – FMA Fines for Late Notification on Shareholding Structure
On 27 September 2024, AUT FMA imposed penalties on firms for late notifications. AUT FMA imposed penalties against EVAX Holding GmbH (Evax) in liquidation, EUROVEA Services, s.r.o. (Eurovea) and another reportable person for violations. Specifically, those involved violated the Austrian Stock Exchange Act 2018. Reporting Requirements Companies and person made criminal decisions by way of…
Read more
S Korea – FSC New Short Selling System Approved
On 27 September 2024, SK FSC said short selling improvements were approved. SK FSC said revisions to the Capital markets act to improve the short selling system have been approved on 26 September 2024 at the National Assembly's plenary session. Follows SK FSC June 2024 launched short selling reform measures. Also follows SK FSS June…
Read more
Thailand – TCH Issued Exceptions to Short Selling
On 27 September 2024, Thai TCH issued exceptions to short selling price criteria. Thai TCH issued a notification on the exceptions to the price criteria for short selling. For alignment with Thai GVT's policy to mobilize capital through VAYU1, in order to enhance public savings, investment and support the development of capital markets. Follows Thai…
Read more
Norway – Register for Beneficial Ownership Effective
On 1 October 2024, the Act on Register of Beneficial Ownership of 2019 takes effect in Norway. Transition phase will end on 31 July 2025 when all relevant entities must comply Purpose of the registry is to fight against corruption, terrorist financing, and other financial crime. Full press release is here.
Read more