On 6 November 2020, JPN FSA issued its list of good examples re disclosures for 2020. Based on examples cited by investors and analysts during a study session, the focus areas for this year are disclosures associated with Covid-19 and ESG. Re Covid-19, disclosures cover areas including operating strategies, business risks, management discussion and analysis,…
Read more
India – SEBI Mutual Fund Overseas Limits
On 5 November 2020, IND SEBI issued rules on enhancement of limits. SEBI issued circular on enhancement of overseas investment limits for mutual funds. In partial modification to clause 1(b) of circular SEBI/IMD/CIR No.7/104753/08 from September 2007 and clause 2 of circular SEBI/IMD/CIR No.2/122577/08 from April 2008. Enhancements Mutual funds can make overseas investments subject…
Read more
Sweden – FI Fines for Late Shareholding Reporting
On 4 November 2020, the Swedish regulator, Finansinspektionen issued a fine for late reporting of transactions in shares. F. Holmström Fastigheter AB shall pay a penalty of SEK 1650,000
Read more
France – AMF Enforcing Ban on Short Selling
On 2 November 2020, FR AMF updated guidance page on the EU regulation on short selling. Including updated excel file containing the history of net short positions made public.
Read more
U.K. FCA Net Short Position Reporting
On 28 October 2020, UK FCA issued guidance on net short position reporting. UK entered transition period on 31 January 2020, which ends at 11pm on 31 December 2020. During the transition period, the EU short selling regulation (regulation (236/2012) (SSR) continues to apply in UK, including the market making exemption. Current Reporting Obligations During…
Read more
Hong Kong – SFC Fines for Takeovers Breach
On 2 November 2020, HK SFC publicly censured Ngai Lai Ha and imposed an 18-month cold-shoulder order for breach of mandatory general offer obligation in takeovers code. Although the breach was caused by Ngai’s misunderstanding of the operation of the 2% creeper provisions in the code, her conduct merits the current disciplinary action. Denied access…
Read more