On 30 December 2020, RUS CB issued rules on foreign investment in banks. RUS CB issued Ord. No. 5618-U on the procedure for the application and termination of the application by RUS CB of the measures provided by Pt 6 of Art 18 of the law on banks and banking activities and the procedure of…
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Germany – BaFin Fines for Late Shareholding Reporting
On 23 December 2020, GE BaFin fined Groupama €130k for shareholding disclosure violations. BaFin announced imposition of fine of €130k on Groupama Asset Management. Groupama did not submit voting rights notifications on time, contrary to s 130(1) of the Administrative Offenses Act in conjunction with s 33(1) of Securities Trading Act.
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Hong Kong – SFC $3.6 mn Short Selling Fine
On 23 December 2020, HK SFC fined Fulbright Securities find $3.6 million. HK SFC fined Fulbright Securities $3.6 mn for internal control failures relating to short selling and for failing to report related short selling incidents to SFC in timely manner. Findings From October 2015 to March 2016, there were at least 93 instances of…
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Thailand – SET Short Positions Not Covered
On 22 December 2020, Thai SET issued guidelines on reporting short positions. Thai SET issued guideline for short selling reporting for positions which have not been covered, with an example of the calculation amount and adjustment of such short positions. Reporting All member companies and non-member securities companies have a duty to submit report on…
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Finland – FSA Net Short Position Threshold
On 18 December 2020, FINFSA announced ESMA decision on extension of lower threshold for 3 months for short selling reporting. Has no effect on disclosure limit for net short positions (0.5%).
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China – NDRC Foreign Investment Review
On 19 December 2020, CHI NDRC issued national security measures. NDRC issued national security rules for foreign investment, consisting of 23 articles. Rules Establishes a foreign investment security review agency, led by CHI NDRC and ministry of commerce, to undertake the daily work of foreign investment security review. Will review investment in military industry, supporting…
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