On 25 February 2021, SK FSC proposed amending capital market research regulations. To establish specific guidelines for imposing fines for those who violate the obligation to store and submit loan transaction information for the purpose of short selling. If there is a final judgment of court fine for the same case after the imposition of […]
On 25 February 2021, RUS CB proposed rules on shareholder disposal of shares. RUS CB issued draft directive amending law Russia no 185-I on obtaining RUS CB consent for acquisition of shares of a financial organization and/or establishing control over shareholders of a financial institution and sending notifications to RUS CB. Specifically in cases where, […]
On 24 February 2021, SK FSC fined 10 overseas financial firms for violations. SK FSC decided to impose a total penalty of KRW685mn on 10 overseas financial companies, following results of an investigation into violation of short sale restrictions. Follows December 2020 SK FSC updated on bill relating to illegal short-selling. Violations There was a […]
On 22 February 2021, HK SFC fined Brilliance Asset Management Ltd $3.15mn. HK SFC fined Brilliance Asset Management Limited $3.15mn for failures to ensure short position reports (SPRs) for 4 collective investment schemes (CIS) were accurate. Also failed to ensure the schemes under its management complied with requirements under securities and futures (short position reporting) […]
On 22 February 2021, EU ESMA issued the renewal decision of 16 December 2020, in EU OJ. The short selling threshold is in force from 19 December 2020 and applies for three months to 19 March 2021.
On 22 February 2021, SK FSC proposed amendment on disclosure regulations. SK FSC announced partial amendment to capital market research business regulations. As stock market volatility has increased, so has the need to strengthen investor protection, as well as improve the effectiveness of penalties for disclosure violations. Amendments Rate of imposition of penalties on collective […]