On 27 March 2o24, AST ASIC reissued regulatory guide on exceptions. AST ASIC said it has reissued RG 6 takeovers: exceptions to the general prohibition. Follows AST ASIC October 2020 updated guidance on share transfers. Key Points Takeover provisions in Ch 6 of ASTCA impose prohibitions restricting a person’s ability to acquire further voting power […]
On 24 March 2024, SK FSS issued violations, precautions re equity disclosure. SK FSS updated on violations, precautions re equity disclosure by listed companies. Violations/Precautions The acquisition of convertible bonds (CBs), bonds with warrants, or exchangeable bonds equivalent to 5% or more of the total number of issued stocks shall be reported. The stock acquisition […]
On 25 March 2024 PAK SEC issued circular re filing return with the registrar. PAK SEC issued a circular re filing of return with registrar for change in shareholding. Filing Per the Companies act, 2017, it is mandatory for an unlisted company to report any change of more than 25% in its shareholding, membership or […]
On 21 March 2024, AST OMB released report on use of undercover powers. AST OMB released report titled Uncovering the use of undercover powers, 2022-23 report to the Attorney-General on agencies’ compliance with the Crimes act 1914: controlled operations delayed notification search warrants account takeover warrants. It includes results of AST OMB’s inspections conducted under […]
On 21 March 2024, VIE GVT published related notification and the consultation paper. Background VIE SEC proposed to amend, supplement existing rules. VIE SEC drafted circular to amend, supplement existing regulations on securities transactions, clearing and settlement; activities of securities companies; and disclosure of information on the securities market; in accordance with Law on securities, […]
On 20 March 2024, HK SFC said Yeung has been sentenced to 18 months in prison for securities fraud; Magistrate Mr. Jeffrey Sze Cho Yiu emphasized severity of the offense. Background HK SFC said Yeung pleaded guilty to securities fraud involving illegal short selling in proceedings. The case marks the first criminal conviction of securities […]