On 10 July 2020, SEC proposed rules on form 13F for fund report of equity. SEC proposed amendments to update form 13F for institutional investment managers. Amend reporting threshold to reflect equities markets, not been adjusted for 40 years. Form Use and Background SEC Rule 13(f) requires a manager to file a report with SEC,…
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China – SAFE Foreign Investment Reporting
On 30 June 2020, CHI SAMR issued notice on foreign information reporting system. Clarify division of responsibilities, improve communication and coordination system. Reports of foreign investment enterprises should be collected at SAMR big data center. Increase publicity efforts on the rights and obligations of information reporting, and promote training to improve service, in order to…
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Turkey – Borsa Bans 6 Firms from Short Selling in Shares
On 6 July 2020, TUR EXC banned six firms from short selling shares. Banned six financial institutions from short selling shares listed on the exchange after they failed to inform authorities about short selling transactions last week.
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China – CBIRC Shareholder Violations
On 4 July 2020, CHI CBIRC published list of shareholders that violated laws. CBIRC has disclosed a list of 38 shareholders who have committed major violations. Illegal behaviors on the list include related-party transactions for improper benefits, providing false materials, sourcing capital that does not meet regulatory requirements. As well as shareholding that exceeds the…
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Finland – FSA Net Short Position Reporting
On 3 July 2020 FINFSA issued details on reporting of net short positions. FINFSA issued information regarding online services for reporting of short positions. Follows, EU ESMA June 2020 renewed decision requiring holders of net short positions, traded on EU market, to notify NCA if position reaches or exceeds 0.1%. Requirements Obligation to report short…
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India – SEBI Amended Takeover Rules
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 gazette. Provide that for indirect acquisitions where public announcement has been made, an amount equivalent to 100% of the consideration shall be deposited in escrow account. Provide further that the…
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