On 3 July 2024, SK GVT proposed revisions to define overseas start-ups. SK GVT proposed revisions to the Enforcement decree of the support for small and medium enterprise establishment act, to define overseas start-up businesses. Proposed Revisions Specify a requirement for substantive control for an overseas start-up as 30% or more of shareholding by Korean…
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China – CSRC Suspends Securities Lending
On 10 July 2024, the China Securities Regulatory Commission (CSRC) approved the suspension of refinancing of securities lending (used as part of short selling). Background: Securities Lending is when brokers borrow shares on behalf of their clients to initiate short selling. Existing refinancing contracts can be rolled over, but no later than 30 September. Effective…
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Hong Kong – SFC Updated Takeover Table
On 9 July 2024, the SFC updated its Takeover table. A new takeover offer period has commenced for S&T Holdings Limited (stock code: 3928).
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10 July 2024 – Italy Consob Fines for Late Substantial Shareholding Report
Italy Fines for Late Substantial Shareholding Disclosure
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10 July 2024 – Italy Consob Fines for Failure to Comply with Substantial Shareholding Rules
Italy Fines for Filaure to Comply with Substantial Shareholding Rules
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E.U. – ESMA Guidelines on Short Selling Exemption
On 8 July 2024, EU ESMA published updated compliance table re guidelines on short-selling. Denmark, Germany, Spain, France, Ireland, Italy, and Sweden each comply with the majority of the short selling guidelines, and each jurisdiction sets out the rationale for this. The remainder of the EU member states and the EEA and EFTA states all…
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