On 7 November 2022, IRE GVT Minister Donohoe welcomed PTSB completion of residential mortgages and associated staff transfer under transaction with Ulster Bank in Ireland. Issued subscription shares to NatWest as partial non-cash transaction; it now holds 16.66% PTSB issued share capital/State shareholding down from 74.9% to 62.4%. Background PTSB has signed binding legal agreements […]
On 7 November 2022, AST GVT proposed a public beneficial ownership register. AST GVT issued consultation paper multinational tax integrity: public beneficial ownership register; said it is seeking comments on the design features for the register. Said proposed register is part of AST GVT’s multinational tax integrity package. Follows AST PRL March 2022 issued report […]
On 25 October 2022, MEX DP published beneficial owner data requirements. MEX DP published agreement through which the minimum essential information on beneficial owners was approved, which will serve as criteria for its disclosure. Background In June 2018, reforms to the General Law of Commercial Companies were published. Requiring corporations and limited liability companies submit […]
On 1 November 2022, NLD GVT said administrators of trusts, mutual funds, similar structures must register ultimate beneficial owners (UBOs) in register as of 1 November. UBO register for trusts and similar legal structures provides more transparency. Only the trustee of a trust, or person with comparable position in a similar legal construction as a […]
On 3 November 2022, Rulefinder alerted to temporary short selling bans in two countries. In Turkey, there were new and extended short selling bans. In Korea, there were new temporary short selling bans for one-day of trading. Effective: Temporary short selling bans are effective 3 and 4 November 2022 respectively.
On 28 October 2022, NOR GVT launched foreign investment security review. NOR GVT appointed a committee to investigate whether there is a need for increased control of foreign investments and other economic activity to protect national security. Screening mechanism has been in development since Security Act was force in 2019. This mandates notification of changes […]