On 6 April 2023, KUW CMA issued fine to COO of Kuwait Finance House for failure to disclose shareholdings. KUW CMA issued disciplinary board decision 125/2022 (100/2022 Authority) fining Kuwait Finance House executive, due to violation of disclosure and transparency rules. Violations Mr Abdullah Mohammad Abdullah Abu Alhous, group chief operations officer, Kuwait Finance House, […]
IMF acknowledged authorities’ decisive action re the UBS takeover of Credit Suisse. Follows SWI GVT, SWI CB, FINMA March 2023 approved UBS/CS takeover. IMF noted that Credit Suisse’s failure reflected weaknesses in internal controls, risk management, repeated regulatory breaches, financial losses, and deposit outflows. Authorities’ decisive actions prevented potential spillovers to the global banking sector. […]
On 3 April 2023, UK FCA issued updated UK list of exempted shares for short selling, contains all shares admitted to trading on UK venues where principal trading venue is outside UK. FCA’s UK list of short selling exempted shares must be reviewed/updated every 2 years from 31 December 2022, new version includes shares admitted […]
On 4 April 2023, SWI PRL issued update on interventions by the CER-N committee. After obtaining first-hand information on the events leading up to the takeover of Credit Suisse by UBS and the circumstances of this takeover, the National Council’s Committee on Economic Affairs and Taxation (CER-N) has acted on several proposals to submit postulates; […]
On 31 March 2023, RSA FSCA issued draft standard on short sale disclosures. RSA FSCA issued draft conduct standard re reporting and disclosure of short sales. Follows December 2018, RSA FSCA released discussion papers on short selling. Draft Standard Current regulatory framework in South Africa does not prescribe requirements for the reporting and disclosure of […]
On 30 March 2023, UK Treasury issued terms of reference for the review. UK Treasury issued terms of reference for the review of foreign direct investment. On same day UK GVT energy security plan to drive investment. Review of how UK can better attract foreign direct investment into key growth sectors to ensure most attractive […]