On 23 August 2024, the SFC issued a substantial shareholding notification. Substantial shareholding reached reportable threshold in GoFintech Innovation Limited (stock code: 00290)
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Vietnam – CB Proposed Regulations RE: Shareholding Limits
On 16 August 2024, VIE CB proposed regulations re shareholding limits. VIE CB proposed regulations for commercial banks whose shareholders and related parties shares exceed the limits prescribed by the Law on credit institutions 2024. Follows VIE PRL February 2024 approved the draft law on credit institutions. Proposal Due to the Law on credit institutions…
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Germany – BaFin Fines for Substantial Shareholding Reporting Failure
On 20 August 2024, GE BaFin issued €1,600,000 fine to NBSH Acquisition for substantial shareholding reporting failure. GE BaFin imposed fines totaling €1,600,000 on NBSH Acquisition LLC on 27 May 2024. The company violated obligations of section 33(1) of the German Securities trading act (WpHG) by not submitting substantial shareholding notifications within the prescribed period.…
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S Korea – FSS Short Selling Guidelines Finalized
On 20 August 2024, SK FSS announced the implementation of the finalized short selling guidelines. All corporations wishing to engage in short selling transactions must establish internal control and an intra-organizational balance management system by Q4 2024.
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Croatia – HANFA Consumer Complaints 2023 Re: Takeovers
On Aug. 14, CRO HANFA issued report on consumer complaints 2023. CRO HANFA published a report on consumer complaints (takeover, insurance, etc..) it received during 2023. Highlights In 2023 198 consumer complaints received, 32 (19%) more than in 2022, compared to annual average complaints received from 2016 to 2023 it equates to 16% increase. Complaints…
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U.K. – Takeover Panel Increased PTM Levy
On 14 August 2024, UK TO Panel increased PTM levy rate to 150p per contract. UK Takeover (TO) Panel increase PTM levy rate to 150p per contract where the total consideration of the relevant trade is greater than £10,000 (or the equivalent in any other currency). On same day, CBOE EU published letter from UK…
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