On 17 June 2022, VIE VSD issued update on the contents of decision 61/QD-VSD, specifically regarding regulations on clearing and settlement of derivative transactions. Clearing members are entitled to withdraw escrow assets if certain conditions are met. Such as when the rate of use of escrow assets after withdrawal is below the threshold. As well…
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Germany – BaFin Voting Rights Disclosure Fine
On 20 June 2022, GE BaFin fined CEWE Stiftung & Co. €600,000 for breach. Ge BaFin announced CEWE Stiftung and Co. €600,000 fine, imposed on 1 June 2022. Company did not publish the total number of voting rights within the required time. Breached section 41(2) in conjunction with section 1 of German securities trading act.…
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Russia – CB Securities Market Disclosures
On 14 June 2022, RUS CB issued guide on securities market disclosures. RUS CB issued guide on restricting disclosure of information on the securities market on temporary decisions allowing participants to choose disclosed information. RUS CB Recommendations RUS CB recommended that investors carrying out transactions with securities account for the fact that information disclosure by…
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E.U. – ESMA Updates Major Shareholdings Section in TD Guide
On 15 June 2022, EU ESMA issued an updated version of its practical guide to the national rules on notifications of major shareholdings under the Transparency Directive. New version of practical guide incorporates changes to information relating to Iceland.
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SEC Fines for Short Selling Violations
On 14 June 2022, SEC charged Weiss IA firm with short selling violations. SEC reported that it charged Weiss Asset Management with short selling violations. IA firm agreed to pay about $6.mn to settle charges it violated federal securities laws when it unlawfully purchased stocks in 7 public offerings after selling same stock short. Alleged…
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UAE – AbuDExc Substantial Shareholding Limit Changes
On 17 June 2022, AbuDExc issued rules on Abu Dhabi National Hotel shares. AbuDExc detailed changes on the substantial shareholding limit for non-UAE nationals for Abu Dhabi National Hotels PJSC shares, that comes into full effect from 20 June 2022. From that date there is no maximum limit for non-UAE nationals, whether natural or legal…
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