On 15 July 2020, UK GVT announced beneficial register for territories. Overseas territories to create accessible registers of company beneficial ownership. Minister for the Overseas Territories and Sustainable Development, Baroness Sugg, made a written Ministerial statement in the House of Commons and House of Lords. Welcomed statements by overseas territories of Anguilla, Bermuda, Cayman Islands,…
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ESMA MiFID II Transparency FAQ
On 8 July 2020, EU ESMA issued updated FAQs on MiFID/MiFIR transparency topics. Technical clarifications for performance of mandatory systematic internalizer (SI) test. Systematic internalizer regime, question 4: Level of asset class at which calculation should be performed for derivatives, bonds and structured finance products. Specifies how number of transactions and nominal amount traded of…
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SEC Form 13F Fund Manager Reports
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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