On 27 April 2021, GE GVT adopted three important future projects. GE GVT decided on a future project presented by the federal ministry for economic affairs and energy, including adoption of amended foreign trade regulation. Foreign Trade Ordinance Improved investment review process, concluding investment review started in 2020. New rules focus on future and high-tech…
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Ukraine – SEC Disclosure Requirements
On 23 April 2021, UKRN SEC discussed changes to fund disclosure. UKRN SEC took part in webinar Changes in the preparation, submission and disclosure by AMC and CII held by Ukrainian Investment Business Association on 23 April 2021. Specialists spoke in detail about significant changes in asset management companies (AMC) reporting and mutual investment institutions…
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Spain – CNMC Takeover Notification Breach
On 23 April 2021, ESP CNMC initiated disciplinary proceedings against Albia. ESP CNMC announced initiation of disciplinary proceedings against Albia Gestión de servicios SLU, subsidiary of Santa Lucía group over breach of takeover notification. Context On 15 April 2021 ESP CNMC launched infringement proceedings against Albia for not notifying purchase operation of funeral home Tanatoria…
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U.K. – FCA Net Short Position Reporting
On 19 April 2021, UK FCA updated lists of exempted shares, short positions disclosed. Further Information See Short Selling (Amendment) (EU Exit) Regulations 2018; and FCA 2019/54. Further information on the changes introduced by the onshored SSR is available in FCA Primary Market Bulletins (PMB) 21 and 24 published in February and October 2019.
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U.K. – Parliament National Security, Investment Bill
On 16 April 2021, UKP announced Lords completed report stage on 15 April 2021. Members discussed changes on topics including the risk to national security posed by climate change and guidance for the higher education and research sector. Voted for minor change to Secretary of State providing further information on regime decisions, in annual report…
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Croatia – HANFA Failure to Report Takeover Bid
On 15 April 2021, CRO HANFA made decisions on issuer enforcement action. CRO HANFA decided on order re a takeover bid, measures re market manipulation. Findings 1 Two individuals and PIK-ESOP failed to make a public announcement on a takeover bid when their combined shareholding exceeded 25% of the share capital of PIK d.d. Should…
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