On 19 May 2020, TAI FSC amended rules on insurance shareholding. Amended article 139-1 of the insurance act, on supervision for eligibility of the controlling shareholders of an insurance company, to implement equity transparency. Amendment When the third party mentioned in article 139-1 part 3 is a legal person, the actual beneficiary or ultimate controller […]
On 18 May, ESMA noted non-renewal of national short-sale bans. ESMA notes non-renewal of the restrictions on short selling and similar transactions. Follows ESMA April 2020 issued positive opinions on ban extensions. Follows AIMA May 2020 issued joint letters to national authorities. Expiration of Bans Finanzmarktaufsicht (FMA) of Austria; Financial Securities, Markets Authority (FSMA) of […]
On 15 May 2020, AIMA responded to Dutch UBO register for non-corporate entities. Background Companies and legal entities to be obliged in 2020 to register their indirect owners. The name and economic interest of the UBO to be made public through the register. Bill implementing the UBO register was submitted to Lower House on 4 […]
On 14 May 2020, IND SEBI issued another one-time relaxation pertaining to open offers and buy-back tender offers opening up to 31 July 2020. Background On 25 August 2019, IND SEBI amended substantial acquisition rules. Revises SEBI 2011 September circular on reports, disclosures required on making takeovers. Per 30(1), 30(2) Substantial Acquisition of Shares and […]
On 14 May 2020, IND SEBI granted relaxation from the applicability of 2017 circular. Accordingly, the stipulations are relaxed for listed entities for whom the deadline to comply with MPS requirements falls between the period from 1 March and 31 August.
On 14 May 2020, Rulefinder reported temporary short selling bans effective today.