On 2 January 2025, the Securities and Exchange Commission's rule 13f-2 came into effect. Requires financial institutions to report short selling activity Identifies reporting and non-reporting issuers First report due on 14 February 2025.
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S Korea – FSC Recovery of Illegal Profits RE: Short Selling
On 27 December 2024, SK FSC proposed amendments re illegal short selling. SK FSC, SK FSS, SK GVT proposed amendments to Enforcement decree of the capital market and financial investment business act and Capital market business regulations. Follows SK FSC November 2024 proposed revisions to statutes on short selling. Also follows SK FSC, SK FSS…
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Hong Kong – SFC Takeover Bulletin Published
On 30 December 2024, the SFC published its monthly Takeover Bulletin. Highlights include: New email address for submissions to the Takeovers Team Cold shoulder order against Zuo Ping for breaching the mandatory general offer obligation Rule 22 submissions: Aggregation of same-day, same-price trades and presentation of non-HKD currency-denominated trades Quarterly update on Takeovers Team activities
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Netherlands – AFM Fines for Market Manipulation
On 20 December 2024, NLD AFM fined VDVI 3mn EUR for market manipulation. NLD AFM fined VDVI BV a financial holding firm 3mn EUR for market manipulation. Misconduct VDVI BV is primarily engaged in the purchase, development, exploitation as well as sale of real estate which artificially increased the price of a listed equity fund.…
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U.S. SEC – Fines IA for Short Selling Against Clients
On 20 December 2024, SEC settled with IA for short selling against its clients. SEC reported it charged Honk Kong IA Snow Lake Capital Ltd for trading rule violation. IA purchased equity securities on behalf of its advisory clients from an underwriter or B/D participating in follow-on offering, after short selling same securities days before.…
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S Korea – FSC Fines 2 Global Banks for Naked Short Selling
On 18 December 2024, Bloomberg reported that the FSC has fined barclays Plc and Citigroup, Inc. for naked short selling. Barclays was fined 13.7 billion won ($9.5 million) Citi was fined 4.7 billion won ($3.2 million) by the Securities and Futures Commission Short selling is banned in S Korea through 30 June 2025
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