On 28 May 2021, ESMA issued FAQs on UCITs, SFTR reporting and others. ESMA announced updated questions and answers on a number of topics. Updated FAQs AIFMD; UCITS; EMIR implementation; MiFID II and MiFIR investor protection topics. Also on MiFIR data reporting topics; SFTR reporting; on implementation of CSDR. And on sustainability-related disclosures for benchmarks;…
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Taiwan – Foreign Investment by Insurance Cos.
On 1 June 2021, TAI FSC implemented the proposed amendments to the regulations. Content of the application form was revised in line with amendments to regulations. Background In March 2021, TAI FSC proposed amendments to regulations governing foreign investments by insurance companies, regarding relaxation of foreign currency insurance policy limits. Amendments In the formula…
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Australia – ASIC Activist Short Selling
On 1 June 2021, AST ASIC published guide on activist short selling. AST ASIC published information sheet on outlining the practice of activist short selling campaigns and its expectations to promote market integrity during such campaigns. Activist Short Selling Involves taking a short position in a financial product, and then publicly disseminating information that might…
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China – CSRC Update on Shareholder Information Disclosure
On 28 May 2021, CHI CSRC responded to media reports that there are excessively strict and detailed verification requirements for shareholder information disclosure. Noted that during implementation, some intermediaries have expanded their scope of verification, resulting in shareholders with small shareholding not meeting criteria. CSRC emphasizes that shareholders of listing companies should be thoroughly inspected…
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Germany – BaFin Imposes Fine for Shareholding Disclosure Failure
On 25 May 2021, BaFin imposed an administrative fine amounting to 24,000 euros on Epigenomics AG. The sanction related to a breach of section 26a (1) sentence 1 of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG) old version. Epigenomics AG failed to publish the total number of voting rights tied to shareholding disclosure within…
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New Zealand – OIC Foreign Investment Changes
On 25 May 2021, NZ OIC said that the overseas investment amendment act 2021 received Royal Assent, and the earliest changes will come into force on 5 July 2021. On the same day NZ GVT issued a press release on the end of emergency screening. On 7 June 2021, the emergency notification regime (ENR) will…
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