On 15 July 2021, EC issued draft delegated act on notification threshold. EC launched consultation on delegated act on the threshold adjustment for notification of significant net short positions in shares under the Short Selling Regulation (SSR). Follows ESMA May 2021 proposed permanently lower threshold of 0.1%. Overview SSR creates set of harmonized rules increasing…
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Canada – CSE Takeovers By Listed Issuers
On 13 July 2021, CSE issued notice on takeover disclosure requirements. CSE issued guidance, expectations on disclosing certain acquisitions by listed issuers. Exchange reviewed acquisitions of private companies by listed issuers that do not seem to meet fundamental changes criteria, yet significant number of listed securities. Cited CSE Policy 6 distributions, for acquisitions involving issuance…
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France – CMP Aema Group Takeover of Aviva
On 12 July 2021, FR CMP approved Aéma Group's takeover of Aviva France. FR AMF gave the Aéma Group (Macif) the green light for the takeover of Aviva France. Background The Aéma Group and Aviva France are two French operators in the insurance sector. Particularly active in the non-life, personal, savings and asset management markets.…
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Rulefinder Reports Temporary Short Selling Ban
On 15 July 2021, Rulefinder reported a temporary short selling ban effective 16 July 2021.
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U.K. – FCA Issues Statement on Position Limits
On 9 July 2021, the HM Treasury issued a consultation on its wholesale markets review, this included specific proposals to reform the MiFID commodity derivatives position limits regime. Consultation proposes changes that would limit the scope of position limits to agricultural contracts and physically settled contracts, FCA supports these proposals. FCA states while change being…
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China – CSRC Investment Banking Business
On 9 July 2021, CHI CSRC issued opinions on supervising securities firms. CHI CSRC issued opinions on supervision of securities firms engaging in investment banking business under the registration system, to improve their intermediary roles. Aims to address problems such as poor internal controls and corporate governance. Opinions Clarifies standards and scope of supervision responsibilities…
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