On 31 May 2023, HK SFC conducted operation against illegal short selling. HK SFC conducted a joint search operation with the Commercial Crime Bureau of the Police, against an individual suspected of illegal short selling and fraudulent activities. Allegation Individual used fabricated statements to deceive 2 brokerage firms, was arrested of dealing with property known…
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Germany – BaFin Acting in Concert Examples Shareholding and Takeovers
On 30 May 2023, BaFin published an article regarding collaborative engagement among institutional investors. covers collaborative engagement with respect to ESG topics notes the possible unintended consequences related to acting in concert within German substantial shareholding and takeover requirements. presents various scenarios to help illustrate the topic provides BaFin’s assessment as to whether relevant understanding…
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S Korea – Rulefinder Alert to Temporary Short Selling Ban
On 1 June 2023, Rulefinder alerted to a new temporary short selling ban in S Korea. This short selling ban will be effective for 2 June 2023.
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Australia – ASIC Action re Failing to Disclose
On 26 May 2023, AST ASIC said former Copper Strike Ltd director charged. AST ASIC said former listed company director of Copper Strike Ltd was charged in AST Court with failing to disclose interests as well as providing false information to ASX. Background AST ASIC said that failure by a director to disclose all of…
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Philippines – PSE Exec Pushes for Short Selling
Philippine Stock Exchange chief executive Ramon Monzon believes allowing short selling could help attract foreign money from global hedge funds. but is facing opposition to his plans from local regulators.
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E.U. – ECB Issues Guide on Qualifying Holdings Procedures
On May 23, 2023, ECB issued final Guide to qualifying holding procedures, as well as responses received to consultation, feedback statement, guide will increase clarity. Clarifies how supervisors assess applications to acquire qualifying stakes in banks, will support applicants intending to acquire holdings by explaining supervisory actions. Guide also provides information on complex acquisition structures,…
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