On 30 March 2022, NLD AFM issued €250k fine for short selling reporting failure. NLD AFM fined Merian Global Investors (UK) Ltd for not reporting short selling. Violations Fine imposed because of failure to comply with regulations on reporting net short positions from 8 October 2014 to 19 January 2018, in violation of short selling…
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Australia – Gov’t Foreign Acquisitions and Takeovers
On 31 March 2022, AST GVT registered foreign acquisitions and takeovers amendment regulations 2022; these regulations commence on the day after they were registered. The regulations reduce regulatory burden for foreign investors that engage in moneylending, invest in unlisted land entities or Australian media businesses. As well as those that acquire shares or units under…
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U.K. – GVT National Security Law Forms
On 29 March 2022, UK GVT issued rules on content of notification forms. UK GVT issued the National security and investment act 2021 (prescribed form and content of notices and validation applications) (amendment) regulations 2022. Follows UK GVT December 2021 issued rules on NSI notification service forms. Purpose Correct errors identified by Joint committee on…
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Sweden – Fine for Late Substantial Shareholding Disclosure
On 28 March 2022, SWE FI fined Waldakt Aktiebolag for late notification. SWE FI issued SEK 75,000 fine for failing to properly report substantial shareholding transactions. Overview Concerns fine according to act (2016:1306) with supplementary provisions of MAR. Case relates to purchase by Waldakt Aktiebolag (WA) of shares in Resurs Holding AB. Individual within WA…
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Italy – CB Qualified Shareholding Form Issued
On 29 March 2022, ITA CB issued requirements for potential buyers-self-certification. It is a form for declaration needed under arts 46-47 del DPR 445 of 28 December 2000. Background On 28 October 2021, ITA CB announced rules on qualified shareholding in banks, IMEL. Update information and documents to be sent to ITA CB by anyone…
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Cayman Islands – GVT Beneficial Ownership Rules
On 23 March 2022, CAY CIMA issued consolidated ownership rules for companies, LLPs. CAY CIMA issued Beneficial Ownership (Companies) regulations (2022 revision). Also Beneficial Ownership (Limited Liability Partnerships) regulations (2022 revision). Gazette dated 14 January 2022, received 23 March 2022 , and summarized on 30 March 2022. Beneficial Ownership (Companies) Regulations 2017 as amended by…
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