On 2 January 2018, Consob continued to suspend Banca Carige trade on markets.
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Taiwan – FSC Timing of Reports
On 11 December 2018, TFSC said proposal completed notice period, implemented soon. It has been noticed that some issuers may be unable to announce the monthly operational status according to the time limit set in Article 36 of Securities Law.Thus, will amend the financial report and operation of the public issue company.RevisionsIn the event of…
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Hong Kong – SFC Takeovers Table Updated
On 12 December 2018, the offer period for Dining Concepts Holdings Limited (StockCode: 8056) and Target Insurance (Holdings) Limited (Stock Code: 6161) were closed.
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Netherlands – EA Cooling-Off in Takeovers
On 7 December 2018, NLD EA issued bill on cooling-off in hostile takeovers. Bill to allow board of a Dutch listed company to invoke 250 day cooling off period.BackgroundFollows political debate over several hostile takeover attempts, e.g. Akzo-Nobel.Government response was published in letter dated May. 20, 2017, with 4 options.Shareholders may pressure management to change strategy,…
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Germany – BaFin Fine M. Stanley £2.4mn
On 5 December 2018, GE BaFin fined M. Stanley €2.4mn voting rights Sanction based on violations of German Securities Trading Act, sections 33, 34.Failed to submit voting rights announcements in time, firm can appeal the fine.
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South Africa – FSCA Short Selling, LEIs
On 4 December 2018, RSA FSCA released discussion papers on short sales/LEIs. FSCA issued the following two discussions papers for comment by 15 January 2019. Short Sale Reporting In response to the finding in the 2014 IMF Financial Sector Assessment Program that South Africa did not have a reporting framework in place for short sales.FSCA…
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