On 27 April 2021, IRE GVT issued beneficial ownership regulations. IRE GVT issued EU (anti-money laundering: beneficial ownership of trusts) regulations. Follows 30 June 2021 IRE GVT issue of rules on certain financial vehicles. Summary The regulations implement the rules in article 31 of directive 2015/849 of European Parliament and Council of 20 May 2015,…
Read more
India – SEBI Fines for Failure to Disclose Substantial Shareholdings
On 16 April 2021, SEBI issued a fine against Chaitya Rajesh Shah for his failure to make substantial shareholding disclosures for shares held in Gitanjali Gems Ltd.
Read more
SKorea – FSC Tightens Short Selling Rules
On 27 April 2021, SK FSC said its chairman took part in short selling mock testing to resume trades. Financial investment-related entities and securities houses also participated, to carry out a final test to ensure normal operation of related computerized systems. Mock testing covered the entire process, with particular focus on compliance with obligation to…
Read more
Germany – GVT Foreign Investment Review
On 27 April 2021, GE GVT adopted three important future projects. GE GVT decided on a future project presented by the federal ministry for economic affairs and energy, including adoption of amended foreign trade regulation. Foreign Trade Ordinance Improved investment review process, concluding investment review started in 2020. New rules focus on future and high-tech…
Read more
Ukraine – SEC Disclosure Requirements
On 23 April 2021, UKRN SEC discussed changes to fund disclosure. UKRN SEC took part in webinar Changes in the preparation, submission and disclosure by AMC and CII held by Ukrainian Investment Business Association on 23 April 2021. Specialists spoke in detail about significant changes in asset management companies (AMC) reporting and mutual investment institutions…
Read more
Spain – CNMC Takeover Notification Breach
On 23 April 2021, ESP CNMC initiated disciplinary proceedings against Albia. ESP CNMC announced initiation of disciplinary proceedings against Albia Gestión de servicios SLU, subsidiary of Santa Lucía group over breach of takeover notification. Context On 15 April 2021 ESP CNMC launched infringement proceedings against Albia for not notifying purchase operation of funeral home Tanatoria…
Read more