On 30 July 2020, EU ESMA issued decision 2020/1123 of 10 June 2020, on renewal in OJ.
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E.U. – ESMA Advice on Use of Short-Selling
On 31 July 2020, EU ESMA issued updated list of market makers and authorized primary dealers using the exemption in the regulation on short selling and CDS.
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India – SEBI Disclosure Takeover Stakes
On 27 July 2020, IND SEBI said relaxations are further extended and shall be applicable for open offers and buy-back through tender offers opening up to 31 December 2020. Background On 1 July 2020, IND SEBI released (substantial acquisition of shares and takeovers) (third amendment) regs, 2020, which enter to force on publication in official…
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U.S. – Treasury FIRRMA Foreign Investment
On 28 July 2020, final rule clarified revision to principal place of business definition. Final rule removes and investments; word activities is inclusive of investments; thus, directing and managing investments made by investment fund captured by activities. Adopted the interim rule establishing a fee for parties filing a formal written notice of a transaction for…
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Singapore – MAS Fund Disclosure Practices
On 27 July 2020, SIN MAS issued good practices for actively managed funds. Sets out good disclosure practices for actively managed funds, re investment objective and extent to which portfolio deviates or can deviate from reference benchmark. Highlights findings from a thematic review on more than 100 equity funds with active management mandates offered by…
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France – Temporary Lowers Thresholds for Foreign Investment
On 23 July 2020, FR GVT issued decree 2020-892 of 22 July 2020 relating to the temporary lowering of control threshold for foreign investments in French companies whose shares are admitted to trading on a regulated market in official gazette. Published in official gazette on 23 July 2020. Decree does not apply to investments made…
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