On 14 May 2021, SIN MAS issued guidelines for fund management firms. SIN MAS issued guidelines on licensing, registration and conduct of business for fund management companies, on how to qualify and conduct business as a fund manager. Follows January 2016 MAS issued guide on fund management companies. Guidelines Set out eligibility criteria and application…
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Sweden – FI Issues Fine for Failure to Report Short Selling
On 14 May2021, SWE FI ordered Unwrap Finance Nordic to pay SEK 25mn. Unwrap Finance Nordic received fine for failure to submit short selling notifications. Compliance Failure Failure to notify SWE FI that the company's net short position in shares in ArcAroma AB had reached or fallen below the relevant thresholds for notification on 57…
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Rulefinder Reports Temporary Short Selling Ban
On 14 May 2021, Rulefinder reported a temporary short selling ban effective 17 May.
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Slovenia – ATVP Takeover Bid License
On 10 May 2021, SLV ATVP issued rules on takeover prospectus content. SLV ATVP announced publication of decision on the documents attached to application for issue of a takeover bid license and on the more detailed content of the prospectus. Summary The updated legislation updates the previous 2007 legislation of the same name and relates…
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U.S. – CBOE Increase Options Position Limits
On 4 May 2021, Cboe increased position limits for options on certain ETFs. The exchange proposed to increase position limits for options on certain exchange-traded funds and an exchange-traded note, GLD, SLV, LQD, GDX, VXX and UVXY. Background The exchange has observed an ongoing increase in demand, for both trading and hedging purposes, in options…
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Sweden – FI Fines for Late Short Selling Disclosure
On 23 April 2021, the Swedish regulator, Finansinspektionen fined Renaissance Technologies LLC SEK 1,000,000. Renaissance was late in reporting the company's net short position in shares in Oriflame Holding AG. Short positions had, on 47 occasions reached or fallen below the relevant notification thresholds.
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