On 11 April 2025, Thai SEC approved amendments to Thai SET regulations. Thai SEC approved amendments to Thai SET regulations to enhance order and stability in securities trading, particularly the Thai SET's proposal to strengthen short selling regulations by prohibiting short selling of stocks outside the SET100 index. Aims to reduce volatility in medium, small…
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Japan – FSA Securities Transactions Rules RE: Shareholding
On 11 April 2025, JPN FSA proposed revisions re securities transactions. JPN FSA proposed revising Cabinet office ordinance on definitions under article 2 of the financial instruments and exchange act and on restrictions on securities transactions. Plus, the Ordinance on solicitation to exercise voting rights of listed shares by proxy. Revisions re Article 2 of…
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Norway – FSA Fines for Short Selling Violations
On 10 April 2025, NORFSA published decision re short sale fine NOK 3,5 mn. NORFSA issued dec imposing a NOK 3,5 mn fine on Algorithmic Trading Group (ATG). Main Points Fine re ATG's sale of shares in 2024 in EAM Solar AS, listed at Euronext Expand. NORFSA found violations of Reg 236/2012 on short selling,…
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E.U. – ESMA Updates FAQS Re: Takeover Directive
On 7 April 2025, ESMA issued FAQs on exemptions for fungible securities. ESMA issued FAQs on new exemptions for fungible securities in Prospectus Regulation. Exchange Offers Q: ESMA_QA_2521 Does the exemption in Article 1(5)(ba) of Prospectus Regulation concern all exchange offers or only exchange offers falling within the scope of the Takeover Directive. Statement of…
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Taiwan – FSC Tightens Short Selling Rules
On 7 April 2025, TAI FSC made amendments re intraday short sale orders. TAI FSC, TAI Justice issued orders for stipulating rules re para 2 of art 18, subpara 3 of para 1 of art 60, subpara 11 of para 1 of art 138 of Securities and exchange act, art 6 of Standards governing eligibility…
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Canada – CIRO Expectation to Settle Short Sale
On 4 April 2025, CIRO published UMIR amendments which reflect material issued or published by CIRO up to 4 April 2025, re participant obligation to settle short sale. Click here for a link to the UMIR rules and here to the guidance page on UMIR requirements related to short selling and failed trades which cross-refers to…
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