On 2 November 2020, FR AMF updated guidance page on the EU regulation on short selling. Including updated excel file containing the history of net short positions made public.
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U.K. FCA Net Short Position Reporting
On 28 October 2020, UK FCA issued guidance on net short position reporting. UK entered transition period on 31 January 2020, which ends at 11pm on 31 December 2020. During the transition period, the EU short selling regulation (regulation (236/2012) (SSR) continues to apply in UK, including the market making exemption. Current Reporting Obligations During…
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Hong Kong – SFC Fines for Takeovers Breach
On 2 November 2020, HK SFC publicly censured Ngai Lai Ha and imposed an 18-month cold-shoulder order for breach of mandatory general offer obligation in takeovers code. Although the breach was caused by Ngai’s misunderstanding of the operation of the 2% creeper provisions in the code, her conduct merits the current disciplinary action. Denied access…
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Portugal – CMVM Efanor Takeover of Sonae
On 28 October 2020, POR CMVM issued questions and answers on Efanor Investimentos takeover bid for Sonae Indústria and on Sonae Capital, prior to finalizing the offers. Published to clarify to the market and general public, both public acquisition offers.
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Germany – BaFin Security Trading Violations
On 26 October 2020, GE BaFin fined ROY Asset Holding 70,000 euros. BaFiN fined ROY Asset Holding SE €70,000 for security trading violations on 28 September 2020. ROY Asset Holding SE had failed to publish its total number of voting rights on time. BaFin ruled the firm violated section 26a(1) of German Securities Trading Act…
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E.U. – ESMA Short Selling Translations
On 28 October, 2020, EU ESMA issued official translations of its renewal decision of 16 September 2020 to lower reporting thresholds of net short selling positions under art 28 of SSR.
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