On 20 May 2021, CRO HANFA adopted ESMA compliance function guidelines. CRO HANFA management board decided to comply with ESMA guidelines on certain aspects of MiFID requirements re compliance function during 18th session of 20 May 2021. Follows EU ESMA June 2020 guidelines on MiFID compliance function. Overview Guidelines apply to competent authorities and specific […]
On 20 May 2021, ESMA recommended to the European Commission (EC) to permanently maintain the .1% threshold (temporarily implemented due to pandemic) to notify net short positions on shares to national competent authorities (NCAs). ESMA’s press release is available here.
On 19 May 2021, NZ PRL held the third reading of the overseas investment amendment bill (no 3), which will now progress to the royal assent stage. Key Amendments The key amendments include a new investor test, temporary emergency notification requirements, along with a new national interest assessment for some transactions. Also simplifying the regime […]
On 14 May 2021, POR CMVM issued derogation from duty to launch bid. POR CMVM announced it granted derogation from duty to launch public offer for the acquisition of Rasográfica of shares of Lisgráfica SA under art 187.1 Securities Code. Overview On 13 May 2021 Board decided this per provisions of art 189 number 2 […]
On 14 May 2021, SIN MAS issued guidelines for fund management firms. SIN MAS issued guidelines on licensing, registration and conduct of business for fund management companies, on how to qualify and conduct business as a fund manager. Follows January 2016 MAS issued guide on fund management companies. Guidelines Set out eligibility criteria and application […]
On 14 May2021, SWE FI ordered Unwrap Finance Nordic to pay SEK 25mn. Unwrap Finance Nordic received fine for failure to submit short selling notifications. Compliance Failure Failure to notify SWE FI that the company’s net short position in shares in ArcAroma AB had reached or fallen below the relevant thresholds for notification on 57 […]