In The News

Taiwan – Consultation Large Shareholdings Amendments

On 14 January the Taiwanese regulator, FSC issued a consultation with proposed amendments to the Securities and Exchange Act which could impact large shareholdings rules. Proposed:  Large shareholdings reporting threshold to be lowered to 5% from the current 10%. The consultation will be open for comment until 15 March 2022.
Read more

India – SEBI Foreign Portfolio Investors

On  14 January 2022, IND SEBI gazetted SEBI (foreign portfolio investors) (amendment) regulations, 2022, which will come into force on the date of their publication. Inserted section on exemption from strict enforcement of regulations in other cases. The board may grant relaxation from the strict enforcement of any of the provisions of these regulations, subject…
Read more

U.K. – FCA Short Selling Indicator, UK MiFIR

On 13 January 2022, UK FCA reported on flexibility re short selling indicator. UK FCA announced temporary measures for reporting the short selling indicator in transaction reports while considering changes to the UK transaction reporting regime. Overview Transaction reports submitted to the FCA under UK MiFIR must contain designation to identify a short sale; information…
Read more

Germany – BaFin Substantial Holdings of Voting Rights

On 10 January  2022, GE BaFin updated its webpage on substantial shareholdings of voting rights, replacing broken links, and expanding on information previously issued. Reminds users that from 1 July 2020 notifications of changes to voting rights must be in electronic format; transmission to BaFin is via the MVP portal. Users can register with BaFin…
Read more

E.U. – EC Net Short Selling Notification

On 11 January 2022, EU CMSN issued regulation 2022/27 amending regulation 236/2012. As regards adjustment of threshold for notification of significant net short positions. Amends the current short selling notification threshold and sets it permanently at 0.1 %. Regulation in force on 20th day following publication in Official Journal, 31 January 2022.  
Read more

Taiwan – Major Shareholding Consultation Issued

On 11 January 2022, TAI FSC proposed amendments re shareholding ratio. TAI FSC proposed amendments to securities and exchange act re major shareholding. Amendments Lower the threshold for the declaration of substantial shareholding, from 10% to 5%. To allow sufficient time to prepare and respond to amendments of relevant supporting laws and regulations, a transition…
Read more

E.U. – ESMA FIRDS Transparency System

On 6 January 2022, ESMA issued instructions on how to download results files. ESMA issued instructions of the Financial Instruments Reference Data System (FIRDS). Entitled as Instructions on how to download transparency results, for FIRDS files V1.4. Version 1.4 of instructions dated Oct. 11, 2021 was updated by EMSA on 6 January 2022. Follows ESMA…
Read more

Germany – BaFin Investments, Securities Data

On 7 January 2022, GE BaFin said documents in database now fully available. GE BaFin said documents in database re investment, securities are now fully available. As of 1 January 2022, it publishes investment, securities information sheets, investment sales prospectuses and their supplements for full access, as pdf on its website. It will keep them…
Read more

U.K. – CMA Jurisdiction Re Mergers

On 4 January 2022, UK CMA issued revised CMA2 guidance to reflect changes to the Enterprise act 2002 brought about by the National security and investment act 2021. In accordance with National Security and Investment Act 2021, s 62 and associated commencement no. 2 regulations, the previous statutory framework and guidance continues to apply in…
Read more

Austria – FMA Net Short Position Reporting

On 30 December 2021, AUT FMA reported on new net short reporting threshold. AUT FMA reported on lowered EC notification threshold for net short positions. Follows EC September 2021 adopted regulation on notification threshold. Also follows ESMA May 2021 proposed permanently lowering threshold. Also follows ESMA September 2021 consultation to review short sale rules Overview…
Read more