On 26 May 2020, UK TO Panel reported that Brigadier has withdrawn its request for a review of the ruling, therefore the UK TO Panel's ruling of 19 May 2020 stands.
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China – CBIRC Baoshang Bank Takeover
On 23 May 2020, CHI CB and CHI CBIRC approved extension of takeover period for Baoshang Bank by six months, from 24 May 2020 to 23 November 2020, due to Covid.
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France – AMF Issues Update to Short Selling FAQs
On 20 May 2020, FR AMF issued updated FAQs on the temporary prohibition on short-selling following FR AMF's announcement of the suspension of the measure on 18 May.
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Taiwan – FSC Shareholding in Insurance Firms
On 19 May 2020, TAI FSC amended rules on insurance shareholding. Amended article 139-1 of the insurance act, on supervision for eligibility of the controlling shareholders of an insurance company, to implement equity transparency. Amendment When the third party mentioned in article 139-1 part 3 is a legal person, the actual beneficiary or ultimate controller…
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E. U. – ESMA on Removing Short Selling Bans Close
On 18 May, ESMA noted non-renewal of national short-sale bans. ESMA notes non-renewal of the restrictions on short selling and similar transactions. Follows ESMA April 2020 issued positive opinions on ban extensions. Follows AIMA May 2020 issued joint letters to national authorities. Expiration of Bans Finanzmarktaufsicht (FMA) of Austria; Financial Securities, Markets Authority (FSMA) of…
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Netherlands – EA Beneficial Owners Register
On 15 May 2020, AIMA responded to Dutch UBO register for non-corporate entities. Background Companies and legal entities to be obliged in 2020 to register their indirect owners. The name and economic interest of the UBO to be made public through the register. Bill implementing the UBO register was submitted to Lower House on 4…
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