On 11 November 2020, GE BaFin fined JO Hambro Capital for voting violations. BaFin has fined JO Hambro Capital Management 120,000 euros over voting violations. JO Hambro Capital Management failed to submit it's voting rights notifications on time. BaFin said the failure violated section 130 paragraph 1 of Administrative Offenses Act. The company was also…
Read more
China – CSRC Foreign Investor Regulation
On 11 November 2020, ASIFMA gave detailed review of key aspects of the new regulation. By lowering and simplifying QFII qualification requirements, smaller investors are able to participate, which opens the QFII scheme to more investors, like hedge funds. With simplification of the application process, investors no longer have to separately apply for QFII and…
Read more
U.A.E. – AbuDEx Foreign Investment in Taqa Shares
On 10 November 2020, AbuDExc revised foreign share ownership limit for Taqa. AbuDExc announced Taqa shares were opened to foreign ownership, with cap of 49%. Overview Informed of new substantial shareholding limit on Abu Dhabi National Energy Company PJSC (TAQA) shares, 51% is minimum ownership for UAE nationals and for non-UAE nationals 49%. Board had…
Read more
UK – Gov’t National Security, Investment Bill
On 11 November 2020, UKP issued bill on national security and investments. UKP said national security and investments bill 2019-21 had first commons reading. UK GVT issued statement of policy intent, impact assessment, regulatory policy committee report, memos on human rights, delegated powers and regulatory reform committee, plus factsheets on overview of bill and the…
Read more
Japan – FSA Information Disclosures
On 6 November 2020, JPN FSA issued its list of good examples re disclosures for 2020. Based on examples cited by investors and analysts during a study session, the focus areas for this year are disclosures associated with Covid-19 and ESG. Re Covid-19, disclosures cover areas including operating strategies, business risks, management discussion and analysis,…
Read more
India – SEBI Mutual Fund Overseas Limits
On 5 November 2020, IND SEBI issued rules on enhancement of limits. SEBI issued circular on enhancement of overseas investment limits for mutual funds. In partial modification to clause 1(b) of circular SEBI/IMD/CIR No.7/104753/08 from September 2007 and clause 2 of circular SEBI/IMD/CIR No.2/122577/08 from April 2008. Enhancements Mutual funds can make overseas investments subject…
Read more