On 3 June 2020, BEL FSMA settled with firms for late transactions disclosure. BEL FSA agreed settlement of €55,000 between Sopal International SA and Frabelco SA, and a nominative publication on the FSMA website for late reported transactions. Details Mr Francis Lambilliotte was vice-chairman of the board of directors of Hamon & Cie NV from…
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Sweden – FI Late Substantial Shareholding Disclosure Fine
On 1 June 2020, SWE FI issued fines to Neongelb, Kringesche re notification. SWE FI fined Neongelb Invest and Kringesche Vermögensverwaltungs GmbH for late disclosure of Stillfront Group shares' acquisition, each fine amounts to SEK 2,400,000. Factual Basis Neongelb Invest GmbH (HRB 147961) and Kringesche (HRB 147903) both must pay a fine for late reporting…
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France – AMF Enforcing Ban on Short Selling
On 2 June 2020, AMF issued guidance on short selling and blog on enforcing. AMF issued Ombudsman blog on prohibition of short selling: who should enforce it and on what grounds? and updated guidance on EU regulation on short selling (SSR). Followed February 2020, AMF updated guidance on short selling regulation. Followed March 2020, AMF…
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Russia – CB Ownership In Financial Firms
On 29 May 2020, RUS CB issued notice on ownership of financial firms. RUS CB will provide simpler language about the ownership structure of financial firms. The aim is to help consumers, investors and public to understand the firms' ownership. Key Points The simpler disclosures apply to insurers, management companies, microfinance firms. RUS CB will…
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E.U. – ESMA MiFID II Transparency FAQ
On 29 May 2020, ESMA issued FAQ on transparency, market structures. ESMA updated FAQs on MiFID II and MiFIR transparency and market structures topics. Follows ESMA Decemebr 2019 FAQs on transparency and market structures. SSTI and LIS Thresholds Provide clarification on following topics: default liquidity status, SSTI, LIS thresholds of non-equity instruments; publication of transactions in…
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China – SZSE Related Transaction Disclosure
On 29 May 2020, SZSE issued guidelines on disclosure of transactions. Guidelines on information disclosure - transactions and related party transactions. Guidelines Improve the rule structure and convenience of use; delete overlapping regulations. Simplify requirements for purchasing assets from related parties at a high premium; introduce audit/evaluation exemptions for certain types of parties and transactions.…
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