On 15 December 2022, SK FTC penalized K Cube for violating voting rules. SK FTC issued a corrective order to K Cube Holdings, an affiliate of Kakao Co. Ltd, for violating restrictions on voting rights of financial companies and insurance companies. Violations Rules state that a company that belongs to a business group subject to […]
On 14 December 2022, UK Takeover Panel code committee published its response statement RS 2022/2 and individual responses received to PCP 2022/2, and instrument 2022/6. Amendments included, among other things, a new version of section 6 Offer by a consortium offeror; s. 7. Investors in limited partnerships and other investment funds. Section 8 Pension schemes, […]
On 13 December 2022, GE Courts ruled on Deutsche Bank takeover of Postbank. GE Courts Federal Court ruled again on takeover of Postbank by Deutsche bank. The plaintiffs in both cases held shares in Deutsche Postbank AG (Postbank). Case re takeover bid pursuant to S29(1) Securities Acquisition, Takeover Act (WpÜG). Federal Court of Justice Second […]
On 11 December 2022, SAU CMA proposed rules regulating foreign investment. SAU CMA issued its resolution to publish amended draft rules for foreign investment in securities, for public consultations for a period of 30 days. Key Amendments The main elements of the project are the development of qualification conditions and facilitating the requirements that must […]
On 8 December 2022, C-IIROC, CSA requested input on short selling framework. CSA and C-IIROC seek input on regulatory framework for short selling in Canada. Issued Staff Notice 23-329 Short selling in Canada to provide overview of the existing regulations, update on current initiatives, request input for regulatory consideration. CSA also issued a summary of […]
On 8 December 2022, CSA published Staff Notice 25-306 Activist short selling update. Provided summary of comments received, which show a persistent negative perception with activist short selling, short selling in general, concerns with existing regulations. Urged stakeholders to comment on Staff Notice 23-329 also issued today. Nt 23-329 seeks input on general short selling […]