On 20 July 2021, UK GVT issued guidance to help prepare for new regime. UK GVT issued guidance and urged businesses / investors to get ready for changes to UK's strengthened national security regime which will commence fully on 4 January 2022. Follows UKP April 2021 national security and investment act (NSIA 2021). Strengthened Regime…
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Rulefinder Reports Temporary Short Selling Ban
On 22 July 2021, Rulefinder, reported a temporary short selling ban in effect for 23 July 2021.
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Portugal – CB Qualifying Holdings
On 15 July 2021, POR CB consulted on communication of qualifying holdings. POR CB issued draft notice on communication of information re-qualifying holdings. Overview POR CB issued a draft notice and justification note regarding regulating communication of information relating to acquisition, increases and decreases in qualifying holdings. With this draft notice, POR CB intends to…
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E.U. – EC Net Short Positions Notification
On 15 July 2021, EC issued draft delegated act on notification threshold. EC launched consultation on delegated act on the threshold adjustment for notification of significant net short positions in shares under the Short Selling Regulation (SSR). Follows ESMA May 2021 proposed permanently lower threshold of 0.1%. Overview SSR creates set of harmonized rules increasing…
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Canada – CSE Takeovers By Listed Issuers
On 13 July 2021, CSE issued notice on takeover disclosure requirements. CSE issued guidance, expectations on disclosing certain acquisitions by listed issuers. Exchange reviewed acquisitions of private companies by listed issuers that do not seem to meet fundamental changes criteria, yet significant number of listed securities. Cited CSE Policy 6 distributions, for acquisitions involving issuance…
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France – CMP Aema Group Takeover of Aviva
On 12 July 2021, FR CMP approved Aéma Group's takeover of Aviva France. FR AMF gave the Aéma Group (Macif) the green light for the takeover of Aviva France. Background The Aéma Group and Aviva France are two French operators in the insurance sector. Particularly active in the non-life, personal, savings and asset management markets.…
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