On 6 December 2024, the SFC updated its Takeover table to reflect the following: new offer period has commenced for Vertical International Holdings Limited (stock code: 8375) from 5 December 2024. Visit SFC Takeover Table
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S Korea – FSS Fines for Short Selling Violations
On 26 November 2024, SK FSS fined Mirae Asset Securities for liquidity fails. SK FSS fined Mirae Asset Securities, for violating the duty to maintain liquidity ratio and submit business reports, the ban on credit extension to affiliates' executives. Disciplinary Actions Imposed a caution, KRW 696mn penalty surcharge, KRW 578mn fine for negligence against firm;…
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Algeria – COSOB Qualified Investor Definition
On 28 November 2024, ALG COSOB issued instruction on the qualified investor. ALG COSOB issued instruction 24-08 of 27 November 2024 relating to the qualified investor. Follows ALG COSOB January 2024 in gazette Order of 28 November 2023 approving COSOB Reg 23-04 of 25 October 2023, on General Regulations of Stock Exchange. Main Points Instruction…
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S Korea – FSS Fines for Holdings Violations Re: Short Selling
On 26 November 2024, SK FSS fined Korea Investment, affiliate KRW 1.022bn. SK FSS disciplined Korea Investment Holdings and Korea Investment & Securities. Document dated 26 November 2024, received from FSS 27 November 2024, summarized on 29 November 2024. Korea Investment Holdings Imposed KRW 72mn fine for negligence against the firm, issued a caution against…
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U.S. – SEC Fines for Short Selling Violations
On 26 November 2024, SEC settled charges against FiveT for short selling violations SEC charged FiveT Capital AG (FiveT) for buying stock in public offerings of securities for advisory clients after short selling the same stock during a prohibited period. Allegations FiveT violated SEA Rule 105 of Reg M (17 CFR 242.105) while short selling…
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S Korea – FSC Revision to Short Selling Rules
On 21 November 2024, SK FSC proposed revisions to statutes on short selling. SK FSC, SK GVT proposed revisions to the Enforcement decree of the capital markets act, Regulations on financial investment business, as per revised Capital markets act. Follows SK FSC September 2024 said short sales improvements were approved. Revisions to Enforcement Decree For…
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