On 23 April 2020, SWE FI fined investor for exceeding substantial shareholding threshold. Armistice Capital received a SEK1mn penalty for late substantial shareholding disclosure reporting in Moberg Pharma AB (publ).
Read more
Russia – CB Asset Manager Disclosures
On 21 April 2020, RUS CB issued mutual funds information directive. Bank of Russia has developed new disclosure requirements for asset managers (UK). Required to give investors access to complete information, whether acquiring mutual investment fund (UIF) shares or evaluating performance of a management company. The corresponding draft directive has been published on the Bank…
Read more
Sweden – FI Fine for Late Shareholding Disclosure
On 20 April 2020, SWE FI fined investors for notice of share purchase. Brax Investments SA will pay special fee of SEK 2,400,000 ($240K) for late notification of the acquisition of shares in Nordic Flanges Group AB (publ) to Finansinspektionen. Bees Invest Bees Invest SA SPF will pay a penalty fee of SEK 2,400,000 ($240K)…
Read more
Spain – CNMV Updated FAQs on Short Selling Ban
On 17 April 2020, ESP CNMV issued updated FAQ document on the short selling ban. Half of the questions covered in late March 2020 have been supplemented or amended.
Read more
Austria – Extension of Short Selling Ban
On 15 April 2020, AUT FMA extended the short sale ban in some financial instruments. It relates to entering new net short positions or increasing existing net short positions. Transactions by market makers and some trades in financial instruments are exempt. AUT FMA has agreed procedure with ESMA and the procedure has been harmonized. The…
Read more
Mexico – GVT Foreign Ownership Rules
On 15 April 2020, MEX GVT proposal re investment in Mexican companies. MEX GVT seeks to amend aspect of foreign ownership in Mexican companies. Foreign Investment Limit Under article 9 of the foreign investment law, MEX national foreign investment commission must approve foreign acquisition that exceeds certain parameters. A foreigner may invest over 49% in…
Read more