On 28 November 2019, BRZ GVT issued rules re funds of non-resident investors. Resolution 4,761, of 27 November 2019 on rules for investments of non-residents in Brazil. Overview Amends annex II to resolution 4,373 of 2014 on investments of non-resident investors in Brazil’s financial and capital markets, mainly its arts 2.I, 2.III, 2.IV, 3, 4,…
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Philippines – SEC R&L Investment Takeover
On 15 November 2019, PHI SEC ordered CMIC takeover of R&L Investments. Ordered Capital Markets Integrity Corporation (CMIC) to take over the operations of R&L Investments, to protect affected customer accounts on 14 November 2019. Following the stock brokerage’s collapse allegedly due to unauthorized transfers of proprietary, client shares worth about P700mn into an account…
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Temporary Short Selling Ban Effective Today
Rulefinder reports a temporary short selling ban effective today.
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Thailand – SEC Major Shareholder Approval
On 13 November 2019, Thai SEC issued guidelines on submitting requests. Guide to submission of certification form for obtaining approval as a major shareholder. For those who become major shareholders of derivatives business, securities company. Followed notification 54/2562 of 23 July 2019, regarding requests for approval. Accompanied by form 90/91-1/AP25-1, Form 90/91-2/AP25-2, Form 90/91-3/AP25-3.
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China – SSE Disclosure Formatting Guidelines
On 8 November 2019, SSE issued four format guidelines for notices. Formats for disclosing entrusted wealth management, abnormal stock fluctuations, large changes in shareholding, profit distribution and conversion of public reserves. Disclosure Format Amount of content changed but focus is on improving quality of information disclosure. Revised format of entrusted wealth management has increased information…
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Brazil – CVM Consultation on Shareholding, Legal Proceedings.
On 6 November 2019, BRZ CVM extended comment period on lawsuits, until Dec. 12, 2019. The 10 October 2019, Consultation launched on the minimum percentages of shares needed to have lawsuits. Draft initiative seeks to adopt the reduction, provided for under art 291 law 6.404/76. Shareholding for Lawsuits Draft instruction establishes scale reducing, in function…
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