On 12 January 2024, CRO HANFA issued notice for shareholders of PIK from Rijeka. CRO HANFA informed the public that PIK-ESOP d.o.o. has submitted a new request for approval to publish a bid for the takeover of PIK dd since the first one was rejected. The price per share in the first takeover offer was…
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AFM: Substantial Shareholding and Gross Short Positions
On 11 January 2024, the Netherlands market regulator, Autoriteit Financiële Markten (AFM) issued another edition of their Market Watch publication, Read the full article.
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S Korea – FSS Responds to Bloomberg Short Selling Article
On 16 January 2024, the FSS issued a response to Bloomberg’s Article on Illegal Short Sales in South Korea (Jan 15, 2024). Bloomberg argued in its article that illegal short selling is not rampant in South Korea as the total illegal short selling by the recently detected four global investment banks is equivalent to 0.001%…
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S Korea – FSS Uncover Illegal Short Selling
On 14 January 2024, SK FSS said that it has identified violations against short selling regulations by two global IBs during investigations on top 10 global IBs, found to have submitted non-leveraged short selling orders worth KRW 54bn for total of five stocks. SK FSS will promptly initiate the procedure for disciplinary actions against the…
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Canada – CIRO Proposed Amendments to Short Selling Framework
On 11 January 204, the Canadian Investment Regulatory Organization (CIRO) issued a proposal to support and clarify the short selling framework under UMIR by: adding a new positive requirement in UMIR 3.3 to have prior to order entry, a reasonable expectation to settle on settlement date any order that upon execution would be short selling…
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Poland – FSA Final Decision Major Shareholding Case
On 5 January 2024, POL FSA issued final decision regarding Michal Kosciuszko. POL FSA published the final decision regarding the Michal Kosciuszko major shareholding disclosure case. Violations On 15 December 2023, POL FSA repealed 13 December 2016 decision imposing PLN800,000 fine on Kosciuszko for infringements re major shareholding in Polskie Jadlo SA in 2011/12. Fine…
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