In The News

Japan – GVT Foreign Direct Investment

On 24 April 2020, JPN GVT published feedback associated with the public consultation. It also published updated presentation on the matter in Japanese and English. Amended definition closely-related persons, so that a person who was a foreign investor's board member in the past year is excluded from the definition, if the nomination of the person…
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U.A.E. – DFSA SMEs Listing Disclosure

On 22 April 2020, UAE DFSA issued market brief for SMEs on new DFSA listing regime. Market brief is not intended to be guidance as contemplated by Regulatory Law 2004. Discussed audited accounts covering minimum period of one year instead of 3 years. 12-month lock-in period on pre-listing shareholders of SME; website disclosures with information…
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Russia – CB Asset Manager Disclosures

On 21 April 2020, RUS CB issued mutual funds information directive. Bank of Russia has developed new disclosure requirements for asset managers (UK). Required to give investors access to complete information, whether acquiring mutual investment fund (UIF) shares or evaluating performance of a management company. The corresponding draft directive has been published on the Bank…
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Sweden – FI Fine for Late Shareholding Disclosure

On 20 April 2020, SWE FI fined investors for notice of share purchase. Brax Investments SA will pay special fee of SEK 2,400,000 ($240K) for late notification of the acquisition of shares in Nordic Flanges Group AB (publ) to Finansinspektionen. Bees Invest Bees Invest SA SPF will pay a penalty fee of SEK 2,400,000 ($240K)…
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