In The News

Australia – Gov’t Foreign Investment Reforms

On 9 December 2020, AST GVT passed legislation on foreign investment framework reform. Requires foreign investors to seek approval for all investments in sensitive national security land or businesses, including starting such a business, regardless of value. Subjects foreign investors to enhanced monitoring and investigation powers. As well as continue to bear the costs of…
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U.K. – FCA MiFID Commodity Positions

On 7 December 2020, UK FCA updated position limits for commodity derivative contracts. Limits established under markets financial instruments regulations 2017 (MIFI regs). Limits revised in line with RTS 21, states they should be reviewed when there is major change in open interest, deliverable supply, other significant change in market. Changes reflect changing market conditions,…
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Canada – CSA Activist Short Selling Concerns

On 3 December 2020, CSA consulted on activist short selling impact on markets. CSA issued consultation paper to facilitate discussion of concern re activist short sales. The paper sets out findings from CSA research, on the subject, which began in 2019. Summarizes stakeholder concerns, Canadian and international regulatory frameworks. Background Activist short selling involves taking…
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Brazil – CVM Failure to Disclose Stock Sale

On 1 December 2020, BRZ CVM imposed fine for failure to disclose stock sale. BRZ CVM found Jonas Spritzer Amar Jaimovick and Spritzer Consultoria Empresarial Eireli (SCEE) violated of art. 12, paragraph 1, 4 of CVM Instruction 358/021. Respondents failed to inform Ideiasnet SA of the sale of shares in the company. Violative Conduct Ideiasnet…
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