On 13 March 2020, SK FSC imposed a ban on stock short-selling in the KOSPI, KOSDAQ and KONEX markets for a period of six months starting from 16 March to 15 September 2020. During the period, current limits on stock buybacks will be lifted for listed companies. Minimum requirement for collateral coverage ratio for stock…
Read more
Thailand – SET COVID-19 Short Selling Change
On 13 March 2020, Thai SET issued adjustment of short selling regulations. Revised regulations regarding short selling to reduce the effects of the current market conditions caused by the Covid-19 outbreak and global economic condition. In this regards, short selling must be conducted at a higher price than the previous price (plus tick), commencing from…
Read more
Rulefinder Reports Temporary Short Selling
On 13 March 2020, Rulefinder reported several EU and Asian countries that implemented temporary short selling bans in the wake of COVID-19.
Read more
U.K. – FCA Short Selling Ban
On 13 March 2020, UK FCA issued temporary prohibition of short selling. UK FCA notified temporary prohibition of short selling of specific financial instruments. Overview Temporary ban of short selling affected several instruments (included in list published) as per arts 23(1) and 26(4) of reg 236/2012, followed decision made by an EU NCA. Effectiveness Measure…
Read more
Japan – FSA Improving Disclosures
On 6 March 2020, JPN FSA published explanatory material from disclosure workshops. Section corporate governance reform and disclosures covers disclosure improvements in securities reports resulting from ordinance revisions and associated efforts. Challenge from disclosure on cross-shareholdings failing to meet investor expectations. Also ordinance to disclose management strategy and risk-information effective FY3/20. Efforts in response to…
Read more
South Korea – FSC Tightens Short-Selling Rules
On 10 March 2020, SK FSC announced government regulations on short-selling. SK GVT to tighten regulations on stock short-selling for 3 months beginning 10 March in response to recent market volatility; lower bar for overheated short-selling stocks. Changes In KOSPI market, an issue will be designated overheated short-selling stock if price falling rate is 5%…
Read more