On 10 April 2024, NLD DNB said UCITS managers must notify of shareholding. NLD DNB explained that investment firms and managers of UCITS have the obligation to annually notify NLD DNB of the holders of a qualifying shareholding and must also notify DNB when a holder of a qualifying shareholding increases or decreases the interest.…
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U.S. – Blackwells Capital Announced Takeover Plans
On 10 April 2024, Blackwells Capital told shareholders of Braemar Hotels & Resorts Inc. that it intends to takeover the real estate investment trust. Blackwells' told investors it's takeover is necessary to stop the manager from "milking" the company for all it's worth.
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Romania – ASF AIF Authorization Rules
On 4 April 2024, ROM ASF issued draft rules to amend the AIFs Regulation. ROM ASF issued draft to amend and supplement regulation 7/2020 regarding the authorization and operation of alternative investment funds (AIFs). Follows ROM ASF February 2021 amended rules on authorizing/operating AIFs. Overview Proposals to amend and supplement Regulation 7/2020 on authorization and…
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Sweden – FI Market Wizards Short Selling
On 28 March 2024, SWE FI said it is investigating firm re naked short selling. SWE FI is investigating whether Market Wizards BV violated article 12 of Short Selling Regulation (EU) (SSR Reg 236/2012) by short selling shares without coverage. Overview As part of SWE FI's supervision, the regulator carries out investigations to assess whether…
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Thailand – SEC Depository Receipts Proposal
On 30 March 2024, Thai SEC announced revised criteria for non-voting depository receipts (NVDR) services, to support foreign investors in Thai stock market, and prevent Thai investors from using NVDR. Key revisions include prohibiting securities companies from increasing Thai investors' NVDR shareholdings, except through/via pre-enforced rights or legal transfers. Foreign securities companies are required to…
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Australia – ASIC Takeover Bids Guide Reissued
On 27 March 2024, AST ASIC reissued regulatory guide on takeover bids. AST ASIC reissued Regulatory guide 9 - takeover bids (RG 9), which is a guide for listed and unlisted entities, their advisers, and investors involved in a takeover bid. In addition, AST ASIC explained that RG 9 superseded previous version of Sep. 2020.…
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