On 6 January 2025, PAK SEC directed re safeguarding unitholder proxy rights. PAK SEC released direction (of Jan. 1) on Requirements related to conduct of asset management companies (AMCs) representing unitholders of collective investment schemes (CIS) in listed companies' general meetings, about safeguarding proxy rights. General Meeting Requirements AMCs are encouraged to attend all general…
Read more
Hong Kong – SFC Updates Takeover Table
On 5 January 2025, the SFC updated its Takeover table to reflect the following: the offer period closed for China Boqi Environmental (Holding) Co., Ltd. (Stock Code: 2377) on 3 January 2025. Visit SFC Takeover Table
Read more
U.K. – FCA Updated Guidance Page on Short Selling
On 2 January 2025, UK FCA updated guidance page on notification and disclosure of net short selling to add the updated UK list of exempted shares valid from 1 January 2025. List has been reviewed to include shares admitted to trading on UK trading venues until 31 October 2024, list valid from 1 January 2025,…
Read more
S Korea – FIA Investment Compliance Manual Re: Short Selling
On 31 December 2024, SK FIA revised compliance manual for investment firms. SK FIA revised Compliance manual for financial investment firms - asset management. Overview of Revisions Add sections re responsibilities structure, concurrent and ancillary businesses of collective investment business operators under the internal control standards chapter. Short selling, precautions for lending/managing collective investment assets…
Read more
U.S. – SEC Rule 13f-2 Short Selling Reporting
On 2 January 2025, the Securities and Exchange Commission's rule 13f-2 came into effect. Requires financial institutions to report short selling activity Identifies reporting and non-reporting issuers First report due on 14 February 2025.
Read more
S Korea – FSC Recovery of Illegal Profits RE: Short Selling
On 27 December 2024, SK FSC proposed amendments re illegal short selling. SK FSC, SK FSS, SK GVT proposed amendments to Enforcement decree of the capital market and financial investment business act and Capital market business regulations. Follows SK FSC November 2024 proposed revisions to statutes on short selling. Also follows SK FSC, SK FSS…
Read more