On 8 June 2020, SWE FI fined Cambridge Global major shareholding reports Cambridge Global Asset Management, CI Investments Inc. fined SEK 25k for failing to report changes in major shareholdings in Byggmax Group AB within the time limit. Sanction issued according to the act on trading in financial instruments (1991:980). Facts An initial notification was…
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Australia – GVT Foreign Investment Reforms in Sensitive Sectors
On 5 June 2020, AST GVT issued foreign investment reforms. Paper outlines a reform package to Australia’s foreign investment review framework. AST GVT will shortly release exposure draft legislation for consultation on the reforms prior to its introduction into Parliament, and provide further guidance for investors. These reforms include measures to strengthen the existing framework…
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Belgium FSMA Late Transactions Disclosure
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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