On 19 May 2021, NZ PRL held the third reading of the overseas investment amendment bill (no 3), which will now progress to the royal assent stage. Key Amendments The key amendments include a new investor test, temporary emergency notification requirements, along with a new national interest assessment for some transactions. Also simplifying the regime…
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Portugal – CMVM Rasografica Takeover Bid
On 14 May 2021, POR CMVM issued derogation from duty to launch bid. POR CMVM announced it granted derogation from duty to launch public offer for the acquisition of Rasográfica of shares of Lisgráfica SA under art 187.1 Securities Code. Overview On 13 May 2021 Board decided this per provisions of art 189 number 2…
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Singapore – MAS Fund Management Guidelines
On 14 May 2021, SIN MAS issued guidelines for fund management firms. SIN MAS issued guidelines on licensing, registration and conduct of business for fund management companies, on how to qualify and conduct business as a fund manager. Follows January 2016 MAS issued guide on fund management companies. Guidelines Set out eligibility criteria and application…
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Sweden – FI Issues Fine for Failure to Report Short Selling
On 14 May2021, SWE FI ordered Unwrap Finance Nordic to pay SEK 25mn. Unwrap Finance Nordic received fine for failure to submit short selling notifications. Compliance Failure Failure to notify SWE FI that the company's net short position in shares in ArcAroma AB had reached or fallen below the relevant thresholds for notification on 57…
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Rulefinder Reports Temporary Short Selling Ban
On 14 May 2021, Rulefinder reported a temporary short selling ban effective 17 May.
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Slovenia – ATVP Takeover Bid License
On 10 May 2021, SLV ATVP issued rules on takeover prospectus content. SLV ATVP announced publication of decision on the documents attached to application for issue of a takeover bid license and on the more detailed content of the prospectus. Summary The updated legislation updates the previous 2007 legislation of the same name and relates…
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