27 September 2023 – U.S. SEC Fines Six for Major Shareholding Reporting Failures
U.S. SEC Fines Six for Major Shareholding Reporting Failures
Taiwan – FSC Shareholding: Transfer of Trust Shares
On 23 September 2023, TAI Justice issued rules on declaration by insiders. TAI FSC, TAI Justice stipulated article 22-2, 25 and 26 of Securities and exchange act. Declaration Requirements Stipulate declaration requirements for insider of a publicly issued company who holds over 10% of company’s shares and transfers or acquires the shares under a trust. […]
U.S. – SEC Fines for Short Selling Violation RegSHO
On 22 September 2023, SEC settled charges against B/D for Reg SHO (short selling) violations. SEC settled charges against Citadel Securities for millions of violations of Reg SHO. Reg SHO is regulatory framework designed to prevent abusive short selling practices. Allegations For five years, Citadel incorrectly marked millions of orders, inaccurately denoting certain short sales […]
25 September 2023 – India SEBI Fines for Takeover Reporting Failure
India SEBI Fines for Takeover Reporting Failure
Hong Kong – SFC Adopts Changes to Takeover Code / Share Buy-backs
On 21 September 2023, HK SFC published consultation conclusions, adopted all proposals. Changes include revising the definitions of important terms, streamlining takeover processes to enhance efficiency and introducing green initiatives to reduce the carbon footprint. Amended codes will be gazetted on 29 September 2023 and then take effect immediately. Background: HK SFC proposed amendments to […]
22 September 2023 – U.S. SEC Fines for Improper Short Selling
U.S. SEC Fines Citadel Securities for Improper Short Selling