On 9 October 2020, EBA issued compliance table regarding joint guidelines on prudential assessment of takeovers/acquisitions and increases of qualifying holdings in the financial sector.
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E.U. – Screening of Foreign Direct Investment
On 9 October 2020, EC announced the EU framework for screening of foreign direct investment (FDI) will become fully operational as of 11 October2020. Following formal entry into force of FDI screening regulation in April 2019, EC and member States have worked on putting in place necessary operational requirements. Included notification by EU member States…
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Sweden – FI Fines for Late Shareholding Disclosure Reporting
On 8 October 2020, the Swedish regulator, Finansinspektionen fined StrateVic Finance Group AB for breach of the obligation to publish shareholding information about an increase in the number of shares and votes in StrateVic Finance Group AB. StrateVic Finance Group AB shall pay a penalty of SEK 200,000.
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Portugal – CMVM Efanor Takeover of Sonae
On 6 October 2020, POR CMVM issued FAQ on Efanor Investment takeover bids. POR CMVM issued FAQ on Efanor takeover bids on Sonae Indústria and Sonae Capital. Overview To clarify to market and general public aspects of takeover bids (independent of each other) of Efanor Investimentos, SGPS SA (Efanor) on totality of shares representing. Share…
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Sweden – FI Fines for Late Short Selling Reporting
On 5 October 2020, the Swedish regulator Finansinspektionen fined Cigogne Management late short selling notification. Cigogne Management S.A. shall pay a special fee of SEK 2,500,000.
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Singapore – MAS REIT, Fund Compliance Tools
On 2 October 2020, SIN MAS issued guide to REIT approvals, submissions. To facilitate compliance with MAS approval and reporting requirements and timelines. Compliance toolkits available for licensed fund management companies, registered fund management companies, venture capital fund managers, and REIT managers. Lists applications for approvals, notifications to be submitted, regulatory submissions.
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