On 8 October 2018, ASIC issued legislation on relief, updated guidance on short selling. ASIC corporations (short selling) instrument 2018/745 provides legislative relief for ETF market makers to make naked short sales in ETFs and facilitate market making. To rely on the relief, ETF market makers are required to meet additional conditions. Also provides deferred…
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Belgium – FSMA Takeover Rules Updated
On 5 October 2018, BFSMA issued amendments updating takeover rules. The royal decree issued in Belgian official gazette with amendments. To update the takeover decree and the squeeze-out decree, from 27 April 2007. Mandatory Bid Levels Threshold for mandatory bid for listed company, is increased from 30% to 50%. If voting securities admitted to trading…
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Italy – CONSOB AIF Shareholding Paper
On 24 September 2018, Consob issued paper on hedge fund shareholdings. Harmonization of regulations on collective investment schemes (CIS), with UCITS regulation, AIFM directive, has expanded the area of operation of asset managers. Alternative investment funds are emerging as increasingly relevant shareholders. In light of such market development, the paper explores the interaction of the…
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Hong Kong – SFC Takeovers Table Updated
On 26 September 2018, the Securities and Futures Commission updated the Takeovers Table to reflect the offer period for Spring Real Estate Investment Trust (Stock Code: 1426) has commenced.
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Sweden – SFI Securities Trade Reporting
On 25 September 2018, SFI issued a reminder to report in time to avoid penalty. SFI experiencing an increasing number of late notifications of insider dealing so reminder letters issued to companies listed on regulated market, MTF platform. Reminder to disclose required information in order to avoid receiving a penalty. Transparency Issuers on regulated market…
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Hong Kong – SFC Takeovers Table Updated
On 24 September 2018, the Securities and Futures Commission updated the Takeovers Table to reflect the offer period for Get Holdings Limited (Stock code:8100) and Pearl Oriental Oil Limited (Stock Code: 632) have been closed on 21 September 2018.
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