On 23 April 2021, ESP CNMC initiated disciplinary proceedings against Albia. ESP CNMC announced initiation of disciplinary proceedings against Albia Gestión de servicios SLU, subsidiary of Santa Lucía group over breach of takeover notification. Context On 15 April 2021 ESP CNMC launched infringement proceedings against Albia for not notifying purchase operation of funeral home Tanatoria…
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U.K. – FCA Net Short Position Reporting
On 19 April 2021, UK FCA updated lists of exempted shares, short positions disclosed. Further Information See Short Selling (Amendment) (EU Exit) Regulations 2018; and FCA 2019/54. Further information on the changes introduced by the onshored SSR is available in FCA Primary Market Bulletins (PMB) 21 and 24 published in February and October 2019.
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U.K. – Parliament National Security, Investment Bill
On 16 April 2021, UKP announced Lords completed report stage on 15 April 2021. Members discussed changes on topics including the risk to national security posed by climate change and guidance for the higher education and research sector. Voted for minor change to Secretary of State providing further information on regime decisions, in annual report…
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Croatia – HANFA Failure to Report Takeover Bid
On 15 April 2021, CRO HANFA made decisions on issuer enforcement action. CRO HANFA decided on order re a takeover bid, measures re market manipulation. Findings 1 Two individuals and PIK-ESOP failed to make a public announcement on a takeover bid when their combined shareholding exceeded 25% of the share capital of PIK d.d. Should…
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Hong Kong – SFC Fines Optimas Capital for Short Selling
On 15 April 2021, HK SFC fined Optimas Capital due to short selling reporting failures. HK SFC has reprimanded Optimas Capital and fined it HKD1.05mn over failures. It did not ensure short position reports (SPRs) for a collective investment scheme (CIS) under its management were accurate and compliant with the requirements. Investigation An SFC investigation…
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S Korea – FSC Short Selling Exceptions
On 15 April 2021, SK FSC chairman Eun Sung-soo met with securities companies and spoke on preparatory measures for partial resumption of stock short-selling on 3 May 2021. SK GVT has been operating a response team to root out illegal and unfair marketing or advising practices in markets, prevent inappropriate activities, improve regulations. Of four…
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