On 21 July 2020, BNG CB issued circular on remittances of dividend to non-resident shareholders, regarding submission of documents against such remittances. As part of ongoing liberalization to bring uniformity between regulations for enterprises of specialized zones (EZs/HTPs/EPZs) and those of non-specialized zones. Re remittances on account of dividend, decided authorized dealers (ADs) shall no…
Read more
AIMA Short Selling and Responsibility
On 22 July 2020, AIMA analysed short selling responsible investment. AIMA report discussed whether short selling is compatible with responsible investment. Uses the example of environmental risk to demonstrate the link between the concepts. Presents simplified, theoretical discussion of how environmental risks could be hedged. Uses carbon footprinting, to show how short sales could be…
Read more
U.S. – Treasury on Foreign Investment
On 20 July 2020, US spoke on committee on foreign investment (CFIUS). Keynote remarks by US Treasury assistant secretary for investment security, Thomas Feddo, at the American conference institute's sixth national conference on CFIUS. CFIUS is an interagency committee reviews foreign investment transactions in US and certain real estate transactions by foreign persons from national…
Read more
Japan – SESC Fine on Missing Disclosure
On 17 July 2020, JPN SESC recommended disclosed fine on Freesia Macross. JPN SESC recommended a ¥12mn fine against Freesia Macross Co., Ltd., for failing to disclose its trades with its board member in its FY3/17 and FY3/18 securities reports. Having not included the relevant information in its consolidated financial statements. Accordingly, the company violated…
Read more
Temporary Short Selling Ban in Effect Today
Rulefinder reports temporary short selling ban in effect 21 July 2020.
Read more
Cayman – GVT Beneficial Owner Register
On 16 July 2020, CAY GVT issued statement on beneficial ownership register. CAY GVT welcomed UK GVT recognition of work from British overseas territories (BOT). On establishing publicly accessible registers, to disclose company beneficial ownership. Follows UK GVT July 2020 statement on BOT beneficial ownership register. Steps Taken Cayman significantly strengthened and enhanced its beneficial…
Read more