On 17 December 2024, UK FB issued blog on recent changes to takeover code. UK Takeover Panel which oversees corporate takeovers under a City Code on Takeovers and Mergers (the Code), confirmed new changes which will reduce the companies affected. Follows UK TO Panel April 2024 issued consultation on code applicability. Changes Overview The main…
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Argentina – CNV Privatization, Takeover Bids
On 13 December 2024, ARG CNV modified privatization policy standards. ARG CNV issued General Resolution 1037/2024 to modify standards (NT 2013, mod.). The Resolution modified rules on takeover bids that do not involve changes in control. Highlights Resolution 1037 clarified provisions applicable to Public Acquisition Offers (OPA) within the framework of the privatization policy promoted…
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Argentina – CNV Publishes Substantial Shareholding Reporting Standards
On 13 December 2024, ARG CNV published substantial shareholdings reporting standards. ARG CNV issued General Resolution 1036/2024 to modify standards (NT 2013, mod.). Modified special reporting regime for substantial shareholding in issuers that qualify as markets under public offering rules, to align with Resolution 1035 amendments. Highlights Requires market shareholders to report to ARG CNV…
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U.S. – SEC Releases Final Version of Tech Specification for Short Selling Form 13f-2
On 16 December 2024, the SEC released the final version of the technical specification for Form 13f-2, the new short selling rule in the U.S. Form 13f-2 needs to be in XML format and submitted to EDGAR 13f-2 short selling rule comes into effect on 2 January 2025 First short selling reporting date will be…
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S Korea – FSS Voting Rights Disclosure
On 10 December 2024, SK FSS issued the results of an inspection on the status of voting rights exercise by asset management companies as of Q2 2024, and future plans. Found that the exercise rate accounts for 92.5%, lower than major pension funds, urged faithful voting rights exercise in Q1 2025 regular shareholders' meeting season.…
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S Korea – FSS Financial Situation Review Re: Short Selling
On 6 December 2024, SK FSS Governor held a financial situation review meeting. SK FSS will promote improving corporate governance, conducting value-up program, advancing the forex market, inclusion in the world government bond index (WGBI). Complete measures to improve the short selling system by March 2025, continue to improve the foreign investment environment to conform…
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