On 12 October 2018, SEBI published the second amendment in the official gazette.
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Germany -BaFin Position Limits in MiFID
BaFin issued final position limits, taking effect on 11 October 2018. Limits for Phelix power DE future/option contract, base, Phelix power DE future, peak. Phelix base: 40,416,961 MWh for spot month, 209,747,820 MWh for the other months. Phelix peak: 8,432,622 MWh for spot-month and 4,621,611 MWh for the other months.
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Hong Kong – SFC Reports Major Shareholding
On 11 October 2018 the SFC reported a high concentration of shareholding in Zhaobangji Properties Holdings Limited (Stock Code: 1660)
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Australia – ASIC Relief and Guidance on Short Selling
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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