In The News

Portugal – CMVM Securities Code In English

On 10 October 2019, POR CMVM issued copy of securities code in English. Securities code in English incorporating the most recent legislative changes in force. However, this does not dispense with the requirement to consult the official version. Translated version is an important step in providing legislative, regulatory information to economic agents, foreign entities operating/intend…
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E.U. ESMA MIFIR Data Reporting FAQ

On 7 October 2019, EU ESMA issued updated FAQ document on MiFIR data reporting. Part 21, Transaction Reporting, Q2, on national client identifiers for natural persons provides an update on how different identifiers specified in annex II of RTS 22 are represented, relating to new provisions for Portuguese and Romanian identifiers. New Part 17, FX…
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Thailand – SEC Investment Regulations

On 8 October 2019 Thai SEC proposed changes on investment transactions. SEC is preparing rules for investors to buy, sell investment units more conveniently. To enable the public to have access to and use the Thai capital market for savings and investments, SEC is making proposals to create opportunities and reduce limitations. By leveraging advances…
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Brazil – CVM Registering Investment Fund

On 2 October 2019, BRZ CVM repealed specific rules re investment funds. BRZ CVM issued instruction 615 repealing specific rules for investment funds. Overview Amends, repeals provisions dealing with registration at securities registry, other regulations governing investment funds, detailed in instruction itself (12 items). Circular 11/2019/CVM/SIN disseminating information re instruction issued also. As per law…
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Philippines – SEC REIT Public Ownership

On 4 October 2019, PHI SEC proposed amendments to the REIT Act. Proposed amendments will relax minimum public ownership requirement, impose rules on reinvestment of REIT proceeds and enhance controls for related party transactions. Amendments Adjusted minimum public ownership requirement to the level prescribed by REIT Act. Included reinvestment requirement for REIT sponsor or promoter…
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