On 24 January 2020, BRZ same rules apply to firms with foreign participation. BRZ CB issued circular no. 3,977 re participation of natural or legal persons, who are resident/domiciled abroad, in the capital of financial institutions headquartered in BRZ. Local Law Applies Per Rule No. 10,029, of 2019, transitional constitutional provisions act, foreign participation is […]
On 19 January 2020, ISR TASE issued amendments to articles of association. Approved amendments to the articles of association and TASE exchange guidelines. Amendments Authority to suspend a temporary break prior to publication of immediate report and additional amendments in part IV of the articles of association, add new subsection 6. The guidelines were amended […]
On 22 January 2020, SFC stated its decision to commence related proceedings. HK SFC announced that it had decided to commence proceedings, for suspected market manipulation in the shares of China Ding Yi Feng Holdings Limited, against a number of individuals including one or more officers of China Ding Yi Feng. Follows HK SFC‘s 20 […]
On 21 January 2020, SK FSC stated the amended 5% rule would take effect 1 February 2020. The changes to the rule are in line with SK FSC’s 5 September 2019 proposal. Background Shareholding Reports Under the 5% rule, a person who holds 5% or more of the equity securities of a listed company or […]
On 2 January 2020, PHI SEC cleared CMIC guidelines on short selling. PHI SEC has cleared Capital Markets Integrity Corporation’s (CMIC) implementing guidelines on securities borrowing and lending (SBL) and short selling. Approved 17 December 2019 subject to adoption of certain amendments outlined by SEC. Implementation Guidelines Philippine Stock Exchange shall remain responsible for and […]
On 17 January 2020, SIN MAS issued fine for failure to disclose shareholdings. Imposed $200,000 civil penalty on Mr Lim Soon Fang for not disclosing changes in, and providing false information re. shareholding in Asia-Pacific Strategic Investments. This is the first civil penalty action by MAS for breaches of shareholding disclosure requirements since the civil […]