On 15 March 2022, the CNMV opened a public consultation to amend the substantial shareholding disclosure form (Model I). Background: Form would now include information regarding holdings of loyalty shares that grant double voting rights. The proposed new substantial shareholding disclosure form is available in English and Spanish on page 6 of the draft circular,…
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Thailand – SEC Merger, Takeovers Updates
On 18 March 2022, Thai SEC updated securities/derivatives merger/takeovers/acquistion rules. Thai SEC updated criteria for securities and derivatives operator mergers/takeovers/acquisitions. Follows Thai SEC August 2020, issued rules on mergers, takeovers, and acquisitions. Summary Securities/derivatives business operators can apply for a license or pre-registration request to enable merged firms' continued operations once incorporation is complete. Will…
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Rulefinder Alerts to Temporary Short Selling Ban
On 21 March 2022, Rulefinder alerted subscribers to a temporary short selling ban in S Korea. Ban is effective 22 March.
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U.K. – FCA Short Selling Position Reporting
On 16 March 2022, UK FCA issued an updated list of short positions disclosed to them. Background: UK entered transition period on 31 January 2020, which ends at 11pm on 31 December 2020. During the transition period, the EU short selling regulation (regulation (236/2012) (SSR) continues to apply in UK, including the market making exemption.…
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Ukraine – SEC Issuers Disclosure Updates
On 13 March 2022, UKRN SEC relaxed securities issuer disclosure reporting. UKRN SEC issued decision 161 to ensure operation of the capital market in wartime. Summary For the period of martial law, securities issuers will not be obliged to disclose regulated information within the usual time limits established by applicable law and regulations. Annual regular…
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Spain – CNMV Significant Shareholdings, Issuers
On 15 March 2022, ESP CNMV issued draft circular on notification models. ESP CNMV issued a consultation on draft circular on notification models for significant shareholdings, issuer operations on treasury shares, market makers (current cir 8/2015). Follows ESP CNMV November 2021 interpretative criteria for transactions. Follows ESP CNMV May 2020 issued rules for reporting some…
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