On 7 September 2020, UK CMA proposed guidance on its powers and procedures. UK CMA issued consultation on proposed guidance setting out powers and procedures used in cooperation mechanisms under EU foreign direct investments (FDI) regulation. FDI Regulation Creates a cooperation mechanism within the EU for exchange of information on an FDI. In relation to…
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New Zealand – Extends Foreign Investment Measures
On 1 September 2020, NZ GVT retained temporary investment screening rules. NZ GVT announced it would keep emergency notification regime in the overseas investment act 2005 for 90 more days to protect New Zealand’s national interest. Follows NZ GVT May 2020, updated foreign investment screening rules. Background Introduced June 2020, to manage heightened foreign investment…
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India – SEBI Transaction Disclosure
On 1 September 2020, IND SEBI updated on securities transactions disclosure. IND SEBI decided that the details of debt and money market securities transacted shall be disclosed on daily basis with a time lag of 15 days in revised format. This is a change from the previous format and 30 day time lag. Effectiveness Circular…
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Saudi Arabia – CMA Foreign Investors, Debt
On 2 September 2020, SAU CMA allowed foreigners to directly invest in debt. SAU CMA board issued a decision dated 12 August 2020, allowing resident and non-resident foreigners to invest directly in listed and non-listed debt instruments. As part of efforts to align its regulatory requirements with international best practices. Decision Highlights Allowed all foreign…
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India – SEBI Market Volatility Measures Extended
On 31 August 2020, IND ICCL specified the security wise MWPL and position limit for trading members, FII /FPI and mutual fund for F&O contracts for September 2020. Also issued MWPL for stocks traded under securities lending and borrowing scheme. On 26 August 2020, IND SEBI said that the regulatory measures introduced vide SEBI press…
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E.U. ESMA Shareholder Rights Directive Identification Thresholds
On 31 August 2020, ESMA set out national shareholder identity thresholds. ESMA laid out national thresholds for shareholder identification under revised shareholder rights directive (SRD II), included links to national rules for each state. Contains information setting out: national thresholds for shareholder identification in MSs that have established such a threshold; relevant national legislation and…
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