On 18 October 2023, AST GVT registered ASIC corporations (amendment) instrument 2023/774, to amend the ASIC corporations (takeover bids) instrument 2023/683 and ASIC corporations (compulsory acquisitions and buyouts) instrument 2023/684 above. Published explanatory statement; instrument 2023/774 commences 19 October 2023.
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S Korea – FSS Strengthens Short Selling Measures
On 15 October 2023, the FSS released its intentions to strengthen short selling measures. This follows a review conducted by the FSS into short selling activity. Expand short selling investigations into major global IBs. Closely cooperate with overseas supervisory authorities in order to redress illegal short selling by overseas financial investment companies. Strengthen inspections on…
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Philippines – PSE Short Selling Guidelines
On 2 October, the PSE Guidelines on short selling transactions became effective following regulatory approval of critical components of securities borrowing and lending and subject to the official launch of the Short Selling Program and the related system by the PSE. PSE is set to launch their short-selling program with the target date of 23…
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S Korea – FSS Uncover Illegal Short Selling
On 15 October 2023, SK FSS issued a plan re illegal short selling by global IBs. SK FSS announced investigation results re illegal short selling by two global investment banks (IBs) as well as its future plan to prevent reoccurrence. Investigation Results Found that two Hong Kong-based global IBs providing prime brokerage services have conducted…
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U.S. SEC Adopts Short Selling Reporting Rule 13f-2
On 13 October 2023, following an open meeting, the SEC confirmed in a press release, the adoption of new rules to enhance short selling disclosures namely: Rule 13f-2 requiring institutional investment managers that meet certain reporting thresholds to report on Form SHO short positions and short activity data for equity securities. Certain of this data will…
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U.K. – Takeover Panel Launched Digital Version of Takeover Code
On 11 October 2023, UK Takeover Panel launched website for digital version of code. UK Takeover Panel launched digital version of Takeover code on a new dedicated website. Summary Functions include navigation between provisions, pop-up boxes for defined terms, tabs linking rules to related practice statements, pdf copy of code (amended 22 May 2023). Plus…
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