On 22 June 2017, SEC fined ex- ITG managing director $100k re ADR oversight. Anthony Portelli, ex-head of operations, agreed to settle charges, pay $100k fine. He is also prohibited from acting in a supervisory capacity for at least 18 months. Supervised securities lending, and compliance with ADR pre-release agreements. Staff failed to take steps…
Read more
SA Expands Consolidated Takeover Feed to 14 Countries
Solutions Atlantic has expanded its consolidated takeover list to 14 countries; now including Australia, Cyprus, and Malaysia. This consolidated takeover feed supports the takeover reporting obligations simplified by the Regulatory Reporting System. Also released are updated forms for UK TR-1 and Hong Kong SFC Form 2 both of which become effective in the coming weeks.
Read more
Iceland – SA Releases Short Sale Reporting Rule
As previously reported in April 2017, the Icelandic Financial Supervisory Authority announced its proposal to implement the EU Short Selling Regulation into Icelandic law. SA has released the ESMA SSR Rule for Iceland ahead of the effective date, 1 July 2017. More about the ESMA SSR rule: The short selling regulation is a regulation of…
Read more
Hong Kong – SFC Convicts and Fines for Illegal Short Selling
Former responsible officer convicted and fined for illegal short selling. The Eastern Magistrates’ Court has convicted Mr Sammy Shiu Kin Keung after he pleaded guilty to illegal short selling in the shares of Share Economy Group Limited (formerly known as Vitop Bioenergy Holdings Limited) , Global Tech (Holdings) Limited and China Ocean Industry Group Limited…
Read more
RRS Supports EU Net Short Position Sovereign Issuer Thresholds
The EU issued net short position notification thresholds for sovereign issuers on 1 May, 2017. According to Article 7(2) of the Short Selling Regulation, ESMA has to publish a list of the thresholds applicable to the sovereign issuers for the purpose of the notification to competent authorities of significant net short position in sovereign debt.…
Read more
Solutions Atlantic Gives Compliance Confidence
Provides Audit Services for Global Shareholding Disclosure Workflows Seeing an ever-growing demand in regulatory changes within the global shareholding disclosure space, Solutions Atlantic today announced it will be providing audit services to help market participants identify gaps in their global shareholding disclosure process. Since the first of the year, the industry has seen a wave…
Read more