On 24 May 2024, SSE issued several guidelines for listed companies. SSE issued a number of business and self-regulation guidelines for listed companies. Follows SSE April 2024 proposed 7 rules to develop the capital market. Reduction of Shareholdings SSE revised Notice by the SSE and China Securities Depository and Clearing Co., Ltd. on issuing business…
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Hong Kong- SFC Update Disclosure of Interests Substantial Shareholding
On 24 May 2024, HK SFC issued circular on treasury units of REITs. HK SFC issued circular to management companies of SFC-authorized real estate investment trusts (REIT), regarding treasury units of SFC-authorized REITs. Also amended the Outline of part XV of the Securities and futures ordinance (cap. 571)(SFO), disclosure of interests (DI), re mandatory electronic…
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India – SEBI Share Acquisition, Takeovers
On 17 May 2024, IND SEBI issued amendment regulations titled Securities and Exchange Board of India (substantial acquisition of shares and takeover) (amendment) regulations, 2024, effective from same day, being the date published in official gazette. Inserts sub-regulation that the effect on the price of equity shares of target company due to material price movement…
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U.S. – SEC Settles Short Selling Case
On 20 May 2024, SEC reported settlment with Kershner for Rule 105 fails. SEC settled charges against Kershner Trading Americas, LLC (Kershner), for violating SEC short selling rule, when it purchased stock in 23 public offerings after shorting stock. This was during a time period when the SEC rule prohibited those purchases. Allegations The SEC’s…
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The Grey Area of US SEC Rule 13f-2: Short Position Reporting
By now, we all know the ins and outs of US SEC Rule 13f-2: What: short position reporting for institutional investment managers Who: institutional investment managers Read the full article.
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Netherlands – ACM Takeover of RTL by DPG
On 17 May 2024, NLD ACM said more investigation needed into takeover. NLD ACM informed that more investigation is needed into the takeover of RTL by DPG. Follows NLD ACM January 2023 rejection of RTL takeover of Talpa. Main Concerns The acquisition would create a media company with a wide range of television, video streaming,…
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