On 2 May 2024, IDN FSA updated rules on financing securities transactions. IDN FSA issued regulation 6/2024 on financing of securities transactions by securities companies for customers and short selling transactions by securities companies. Follows IDN FSA December 2020 issued regulation on financing securities trades. Regulation Refines the provisions that were previously issued in 55/POJK.04/2020.…
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U.K. – Takeover Panel Revised Takeover Code & Practice Statement 31
On 30 April 2024, UK TO Panel issued revised code & practice statement 31. UK TO Panel published revised Takeover Code and amended Practice Statement 31. Follows UK TO Panel Dec. 2023, issued 14th edition Code/other updates. Takeover Code Revisions reflect amendments in Instrument 2023/4 (central counterparty recovery and resolution), Instrument 2024/1 (The Pensions and…
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Hong Kong – Takeovers: Offer Period Tables Updated
On 29 April 2024, the SFC updated its public takeover table with several transactions.
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Taiwan – EXC Updates Substantial Shareholding Forms in English
On 27 April 2024, TAI EXC updated forms in Mandarin and English, for declaration of directors, supervisors and managers, to reduce the substantial shareholding reporting threshold from 10% to 5%. As well as declaration form for independent directors, to make the same change.
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China – SZSE Proposes Capital Market Rules: Shareholding
SZSE proposed 6 business rules to improve the investment value of listed companies. Issued answers to reporters' questions about the newly-proposed business rules. Follows CHI CSRC April 2024 published opinions on promoting capital market. Also follows CHI CSRC April 2024 issued opinions to reform delisting system. Reduction of Shareholding Published draft SZSElisted company self-discipline supervision…
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U. K. – Takeover Panel Consultation on In-Scope Companies
On 24 April 2024, UK TO Panel issued consultation on applicability of takeover code. The Code Committee of the UK TO Panel has now published a new public consultation paper, PCP 2024/1, which proposes a new jurisdictional framework which would narrow the scope of firms to which Takeover Code (the Code) applied, in a refocusing…
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