In The News

Norway – FSA Reports on 2023 Supervision, Highlights Illegal Short Selling

On 20 February 2024, NORFSA issued report regarding its supervision in 2023, highlighting illegal short selling. Securities Market NORFSA issued report on its supervision of market behavior in the securities market. For the first time, imposed fines for market manipulation and uncovered short selling. In 2023, three judgments were handed down and one recommendation was…
Read more

U.S. – SEC Settles Short Selling Charges

On 21 February 2024, SEC settled short selling charges against Contrarian Capital. SEC charged Contrarian Capital Management, LLC for violations of the SEC's short selling rule, Rule 105 of Regulation M (17 CFR 242.105) per Securities exchange act. Rule 105 of Regulation M prohibits short selling an equity security during a restricted period, and then…
Read more

Pakistan – SEC Amendments to Takeovers

On 2 February 2024, PAK SEC introduced amendments in Listed companies (substantial acquisition of voting shares and takeovers) regulations, 2017, after consultation. Securities offered as payment to minority shareholders must be as good as cash. Based on this principle, the amended regulations allow the acquirer to offer securities as an alternate to cash but leave…
Read more

Finland – GVT Takeover Bid Rules and Multilateral-Trading Facilities

On 15 February 2024, FIN PRL issued HE 3/2024 on FIN GVT proposal to amend Securities Markets Act into law affecting provisions on major shareholdings and voting rights. Also affects major shareholdings and voting rights, takeover bids, and obligation to bid, so that they would apply to multilateral trading facilities, not just regulated markets. By…
Read more

Taiwan – TPEX Published Amended Substantial Shareholding Regulations

On 17 February 2024, TAI TPEX published the amended regulations re declaration on acquisition of shares / substantial shareholding according to para 1 of article 43-1 of Securities and exchange act. Amendments Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%. Major shareholders will be able to submit their reports through…
Read more