On 17 December 2019, SWE GVT submitted a bill with proposals for further amendments to the investment rules of the First – Fourth AP Funds, following meeting on 11 December. The Swedish parliamentary pension group, has supported the proposed bill. Background Government submitted a proposal to Law Council on amendments to improve ability of buffer…
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Germany – BaFin Post-Trade Transparency
On 17 December 2019, GE BaFin issued rules on MiFIR post-trade transparency. BaFin extended current transparency regime for a further year, until 1 January 2020. Overview MiFIR requires post-trade reporting in real-time/as quickly as technically possible. But allows national supervisory authorities to authorize publication at a later date. In January 2018, BaFin allowed publication at…
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Rulefinder Reports Temporary Short Selling Ban
On 20 December 2019, Rulefinder reported temporary short selling bans in two jurisdictions. Find out more here.
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E.U. – Short Sale Market-Making
On 3 December 2019, EU ESMA published compliance table re guidelines on short-selling. Background On 1 February 2019, ESMA issued guidelines on short selling exemption for market making. Criteria to be met for market making exemption, and conditions to assess notification. Market maker to be member of venue that trades instrument, conducts market making. Qualifying…
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India – SEBI Foreign Portfolio Investors
On 16 December 2019, IND SEBI decided AMCs may provide management and advisory services in terms of regulation 24(b) of regulations to FPIs under certain categories. Government and government related investors such as central banks, appropriately regulated entities such as pension funds, FPIs wherein the above hold more than 50%. For agreements entered into by…
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E.U. – ESMA Report on UCITS Penalties
On 12 December 2019, EU ESMA issued second annual report on the sanctions imposed by NCAs under the UCITS directive (both on penalties and measures), for the year 2018. Number of NCAs issuing sanctions remains stable at 15, compared to 2016-17 year. Total number of sanctions issued has decreased based on a year on year…
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