On 23 December 2020, GE BaFin fined Groupama €130k for shareholding disclosure violations. BaFin announced imposition of fine of €130k on Groupama Asset Management. Groupama did not submit voting rights notifications on time, contrary to s 130(1) of the Administrative Offenses Act in conjunction with s 33(1) of Securities Trading Act.
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Hong Kong – SFC $3.6 mn Short Selling Fine
On 23 December 2020, HK SFC fined Fulbright Securities find $3.6 million. HK SFC fined Fulbright Securities $3.6 mn for internal control failures relating to short selling and for failing to report related short selling incidents to SFC in timely manner. Findings From October 2015 to March 2016, there were at least 93 instances of…
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Thailand – SET Short Positions Not Covered
On 22 December 2020, Thai SET issued guidelines on reporting short positions. Thai SET issued guideline for short selling reporting for positions which have not been covered, with an example of the calculation amount and adjustment of such short positions. Reporting All member companies and non-member securities companies have a duty to submit report on…
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Finland – FSA Net Short Position Threshold
On 18 December 2020, FINFSA announced ESMA decision on extension of lower threshold for 3 months for short selling reporting. Has no effect on disclosure limit for net short positions (0.5%).
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China – NDRC Foreign Investment Review
On 19 December 2020, CHI NDRC issued national security measures. NDRC issued national security rules for foreign investment, consisting of 23 articles. Rules Establishes a foreign investment security review agency, led by CHI NDRC and ministry of commerce, to undertake the daily work of foreign investment security review. Will review investment in military industry, supporting…
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South Korea- FSC Market Maker Rules Re: Short Selling
On 21 December 2020, SK FSC issued measures on market makers, short sell. SK FSC introduced measures to improve market maker rules and strengthen detection of illegal stock short-selling activities, to boosting accountability in the market. Follows 10 December 2020 national assembly passage of bill on illegal short-selling. Market Makers Recently, there have been concerns…
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