On 3 December 2020, CSA consulted on activist short selling impact on markets. CSA issued consultation paper to facilitate discussion of concern re activist short sales. The paper sets out findings from CSA research, on the subject, which began in 2019. Summarizes stakeholder concerns, Canadian and international regulatory frameworks. Background Activist short selling involves taking…
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Brazil – CVM Failure to Disclose Stock Sale
On 1 December 2020, BRZ CVM imposed fine for failure to disclose stock sale. BRZ CVM found Jonas Spritzer Amar Jaimovick and Spritzer Consultoria Empresarial Eireli (SCEE) violated of art. 12, paragraph 1, 4 of CVM Instruction 358/021. Respondents failed to inform Ideiasnet SA of the sale of shares in the company. Violative Conduct Ideiasnet…
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U.S. – SEC 13F Threshold Proposal May Be Down But Not Yet Dead
On 10 July 2020, the SEC released for comment a proposed rule that would change the reporting threshold for Form 13F...full article.
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U.K. – Gov’t National Security, Investment Bill
On 3 December 2020, UKP issued Commons 5th, 6th sittings, compilation of committee debate sittings so far, all as at 1 December 2020, notices of amendments as at 1 December 2020. And issued all committee stage proceedings up to 1 December 2020, chairs’ provisional selection, grouping of amendments and committee amendments, both at 3 December…
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U.K. – Brexit Advice for EEA Firms
On 1 December 2020, UK FCA reminded firms to be ready for end of the transition period. UK FCA using temporary transitional power, giving firms more time to comply with many changes, but also key requirements they must comply with by 1 January 2021. Passporting ends on 31 December 2020, so firms providing services currently…
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NZ – Extends Foreign Direct Investment Screening
On 27 November 2020, NZ GVT announced retention of the emergency notification regime. Second review concluded that Covid justifies regime continuing for a further 90 days. Ministers’ next decision on whether it should be retained will be due by 24 February 2021. Background Introduced June 2020, to manage heightened foreign investment risks due to Covid.…
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