On 14 September 2020, the Swedish Financial Supervisory Authority issued a fine against SCGE Fund L.P. for late notification of a short net position in shares in Fingerprint Cards AB on 17 January 2018 which had fallen below a relevant disclosure threshold. SCGE Fund L.P.shall pay a special fee of SEK 10,000
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Egypt – FRA Takeover/Acquisitions, Sukuk, REITs
On 8 September 2020, FRA amended executive regulations of capital market law. FRA issued Prime Minister’s decree No. 1760 of 2020, amending executive regulations of the capital market law No. 95 of 1992 re purchase offers for purpose of takeover/acquisition. Provided new acceptable forms of sukuk; flexibility for real estate investment funds. Removed certain concentration…
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Sri Lanka – CB Sensitive Sector Bank Ownership
On 8 September 2020, SRI CB issued amendment on ownership of issued capital. SRI CB issued amendments to banking act directions No.1 of 2007 on ownership of issued capital carrying voting rights for licensed commercial banks. Ownership of Shares Board may give permission to categories of shareholders to acquire A material interest up to 15%…
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Changes in Foreign Direct Investments – Part II
As a follow up to the blog published on 8 June, foreign direct investment oversight continues with several countries...full article.
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France – AMF Enforcing Ban on Short Sales
On 7 September 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.
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U.K. – CMA Foreign Direct Investments
On 7 September 2020, UK CMA proposed guidance on its powers and procedures. UK CMA issued consultation on proposed guidance setting out powers and procedures used in cooperation mechanisms under EU foreign direct investments (FDI) regulation. FDI Regulation Creates a cooperation mechanism within the EU for exchange of information on an FDI. In relation to…
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