On 27 September 2024, AUT FMA imposed penalties on firms for late notifications. AUT FMA imposed penalties against EVAX Holding GmbH (Evax) in liquidation, EUROVEA Services, s.r.o. (Eurovea) and another reportable person for violations. Specifically, those involved violated the Austrian Stock Exchange Act 2018. Reporting Requirements Companies and person made criminal decisions by way of…
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S Korea – FSC New Short Selling System Approved
On 27 September 2024, SK FSC said short selling improvements were approved. SK FSC said revisions to the Capital markets act to improve the short selling system have been approved on 26 September 2024 at the National Assembly's plenary session. Follows SK FSC June 2024 launched short selling reform measures. Also follows SK FSS June…
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Thailand – TCH Issued Exceptions to Short Selling
On 27 September 2024, Thai TCH issued exceptions to short selling price criteria. Thai TCH issued a notification on the exceptions to the price criteria for short selling. For alignment with Thai GVT's policy to mobilize capital through VAYU1, in order to enhance public savings, investment and support the development of capital markets. Follows Thai…
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Norway – Register for Beneficial Ownership Effective
On 1 October 2024, the Act on Register of Beneficial Ownership of 2019 takes effect in Norway. Transition phase will end on 31 July 2025 when all relevant entities must comply Purpose of the registry is to fight against corruption, terrorist financing, and other financial crime. Full press release is here.
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Switzerland – Gov’t Contemplates Increasing Substantial Shareholding Reporting Threshold
The Federal Council of Switzerland has issued a Consultation which proposes to increase the initial reporting threshold for substantial shareholding from 3% to 5%. Comments must be submitted by 11 October 2024 Send comments electronically (a Word version in addition to a PDF version) to email address: vernehmlassungen@sif.admin.ch Full press release can be found here.
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Hong Kong – SFC Takeover Bulletin Highlights Time to Register in ESS
On 30 September, the SFC issued its September Takeover Bulletin. Highlights: Time to register in the Electronic Submission System (ESS) Quarterly activity on Takeovers
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