On 8 September 2021, SWE FI fined Carve Capital SEK 1,900,000 late flagging. Carve Capital AB fined SEK 1,900,000 penalty for late substantial shareholding disclosure for shares in Attendo AB (publ). Under Fnancial Instruments Trading Act (1991:980), breached timely notification. Late Flagging Carve Capital AB notified SWE FI on 22 January 2019, that on 10…
Read more
U.K. – FCA Update on Substantial Shareholding Disclosures
On 6 September 2021, UK FCA issued an update on substantial shareholding disclosures. Minor changes have been introduced to Section 9.2 of the TR-1 Form notification. Reporting persons are now able to upload a CVS file with details of their ultimate controlling persons and controlling undertakings through which voting rights are held. Manually populated option…
Read more
U.K. – FCA Control Thresholds Update
On 6 September 2021, UK FCA updated webpage on control thresholds or bands. FCA updated its webpage giving guidance to firms on when to notify change in control. Overview Page sets out 4 bands of control for directive firms and gives definition of these firms. For non-directive firms there is only one threshold and one…
Read more
Israel – TASE Guidelines on Short Selling
On 2 September 2021, ISR TASE proposed changes to guidelines on short selling. ISR TASE issued draft document outlining amendments to guidelines on short sales. Key Changes Delete the definitions lender member and borrowing member, correct the definitions sale missing, lender and borrower, and add a definition to missing balance. Amend definition of short sale…
Read more
Sweden – FI Fines for Late Short Selling Disclosure
On 1 September 2021, SWE FI imposed SEK 600k fee for late notice on positions. SWE FI stated that Carmignac Gestion must pay special fee of SEK 600,000. Relates to late notification that its net short positions in shares in three different issuers have on 27 occasions passed the relevant notification thresholds. A matter on…
Read more
E.U. – ESMA Updates Guide to Notifications of Major Shareholding
On 1 September 2021, EU ESMA published an updated version of its practical guide to the national rules on notifications of major shareholdings under the Transparency Directive. New version of the guide incorporates changes to information re Iceland and Italy, while information re the UK was removed following end of Brexit transition period.
Read more