On 27 September 2019 final rule published in federal register, effective 26 November 2019.
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RRS Exceeds $7T in Aggregate AUMs
Solutions Atlantic, the experts in global shareholding disclosure today announced that its Regulatory Reporting System (“RRS”) is now managing over $7T in aggregate client assets under management. No other vendor comes close to its client to AUM ratio. “While other vendors may have an equal or larger client base they cannot compare to the size…
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Singapore – MAS Short Selling Regulations
On 24 September 2019, SIN MAS issued guidelines on short sale regulations. Guidelines state requirements for the reporting of short sell orders and short positions. Short Selling Guidelines provide market participants with better understanding of administration of legislative provisions relating to short selling disclosure and reporting in SFA by MAS. Has guidelines for institutional participants…
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U.K. – CMA Cobham Takeover
On 18 September 2019, UK CMA responded to proposed acquisition of Cobham. On 17 September 2019, secretary of state issued a European intervention notice to intervene in the proposed takeover of UK defence company Cobham on national security grounds. UK CMA Report UK CMA will need to prepare a report on the national security aspects…
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France – GVT Foreign Investment In France
On 12 September 2019, FR GVT issued guidance on foreign investment. Treasury issued information on prior authorization process for foreign investments. Followed December 2018, FR GVT decree on authorized foreign investments. Followed PACTE law on business transformation and growth. Overview PACTE law reformed prior authorization process, to preserve national strategic interest. Aims to better prevent…
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Germany – BaFin Goldman Sachs Fined
On 6 September 2019, GE BaFin fined Goldman €800k for voting rights. BaFin imposed a fine of 800,000 euros against Goldman Sachs on 12 August 2019. The sanction was based on a violation of German Federal Administrative Offenses Act section 130(1), in conjunction with German Securities Trading Act section 25(1). Goldman Sachs International had not…
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