On 22 September 2021, UK GVT issued correction slip so in article 4(b): ...ordinary course of business, course of business, no... should read ...ordinary course of business, no... Background On 7 Septemebr 2021, UK GVT issued rules on proposed Chinese takeover of firm. UK GVT issued public interest merger reference (Perpetuus Advanced Materials plc) (pre-emptive…
Read more
Luxembourg –
On 15 September 2021, LUX CAA reminded firms of shareholding change rules. LUX CAA reminded brokerage firms of requirements to notify of shareholder changes. Overview LUX CAA noted that many insurance and reinsurance brokerage companies have not notified changes of shareholders during their reporting for the 2020 financial year. The circular outlines the terms of…
Read more
Sweden – FI Fines for Late Substantial Shareholding Disclosure
On 16 September 2021, SWE FI fined Starbreeze SEK 250,000 for late shareholding disclosure. SWE FI issued SEK 250,000 penalty fee against Starbreeze AB for late notifications, under the Act (2016:1306) and violating EU Market Abuse Regulation (Mar) provisions. Follows SWE FI March 2020, fined Starbreeze AB for late substantial shareholding reporting. Summary Investigation and…
Read more
U.S. – FTC Large Tech Company Acquisitions
On 15 September 2021, FTC issued a report on unreported acquisitions by the biggest tech firms. The report analyzes acquisitions by Alphabet/Google, Amazon, Apple, Facebook, Microsoft. Captures how these firms devoted tremendous resources to acquiring start-ups, patent portfolios, and entire teams of technologists, done largely outside of purview of FTC . Technology platform inquiry focused…
Read more