Solutions Atlantic has released an amended rule for Singapore short selling reporting requirements. Changes to short selling regime and disclosure obligations in Singapore will take effect in October 2018.
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RRS Adds Coverage for Jamaica
Solutions Atlantic has released coverage for Jamaica, following the addition of this jurisdiction to aosphere's Rulefinder. This brings the total jurisdiction coverage to 97 in the RRS Rules Library. Investors in Jamaica will find themselves subject to major shareholding disclosure obligations as well as short selling and issuer limits.
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Hong Kong – SFC Deutsche Short Fine
On 13 March, HK SFC fined Deutsche Bank HK$8.3mn for short sales. Fined Deutsche Bank and its wholly-owned subsidiary Deutsche Securities Asia. Re short position reports, unlicensed activities and segregation of client money. Short Positions Breach of reporting requirements, led to a failure to report 792 short positions. Short position at close of trading on…
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RRS Adds Serbia to Jurisdiction Coverage
Solutions Atlantic has released coverage for Serbia extending its Regulatory Reporting System Rules Library to 96 jurisdictions. This release comes on the heels of Serbia being added to Rulefinder, the source for regulatory intelligence provided by aosphere LLP. Investors in Serbia will find themselves subject to major shareholding disclosure obligations as well as sensitive sector…
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Hong Kong – SFC Nomura Takeover Code
On 5 March 2018, HK SFC publicly criticized Nomura on takeover research. Criticized Nomura International (HK) Limited, for breaches of HK takeover code. Also cited Lee Yuen Yee, whilst acting as financial adviser to West China Cement. Lee is a licensed representative of Nomura Hong Kong, for the regulated activity. Work done in relation to…
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Hong Kong – SFC Fines Credit Suisse $39mn
On 8 February, HK SFC fined Credit Suisse $39.3mn for regulatory breach. Followed self-reporting of breaches, agreed independent reviews, and investigation. Failures in segregating client securities, and reporting direct business transactions. Complying with short selling, electronic trading requirements, contract note rules. Failures in internal controls to ensure suitable investment products sold to customers. Co-operation expedited…
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