On 7 May 2020, IRE CCPC said simplified notification regime from 2020. IRE CCPC announced Simplified Merger Notification Procedure from 1 July 2020. Simplified merger notification procedure will not replace the current procedure, but will facilitate more efficient review of mergers that do not raise competition concerns. Benefits Simplified procedure will shorten review periods for…
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U.K. – FCA MiFID Position Limits
On 5 May 2020, UK FCA updated position limits for commodity derivative contracts.
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Germany – BaFin Mandatory Electronic Shareholding Disclosures
On 6 May 2020, BaFin issued an update announcing mandatory electronic filing of major holdings will be effective in July 2020. In March 2020, BaFin informed of an upcoming amendment to the regulation on the notification of major shareholdings (Stimmrechtsmitteilungsverordnung – StimmRMV) according which the electronic submission will be the only permitted method of submitting…
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France – GVT Foreign Investment Screening
On 30 April 2020, FR GVT adapted rules on investments during Covid. FR GVT adapted control of foreign investments in France (IEF), during the Covid crisis. Minister of Economy and Finance announced the adaptation of a procedure on 29 April 2020. Foreign Direct Investment First, long-term inclusion of biotechnologies in critical technologies list for IEF control.…
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Bulgaria – FSC EU Shareholders Directive
On 30 April 2020, BUL FSC adopted EU shareholders rights directive. Consultation on ordinance to amend and supplement ordinance 48 of 20 March 2013 on requirements for remuneration and thereby transpose EU shareholders rights directive. Issued draft regulation and the reasons for it, as well as reference for EU compliance. Proposed amendments regarding management remuneration policy…
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Brazil – GVT Mergers and Acquisitions
On 30 April 2020, BRZ GVT issued rules on specific M&A assessments. Circular 4.013 of 28 April 2020 on BRZ CB assessment of certain concentration acts. Amended cir 3.590 of 2012 re analysis of mergers in the National Financial System. Key Aspects Specific concentration acts involving, directly or indirectly, financial institutions that must be submitted…
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