On 28 November 2024, ALG COSOB issued instruction on the qualified investor. ALG COSOB issued instruction 24-08 of 27 November 2024 relating to the qualified investor. Follows ALG COSOB January 2024 in gazette Order of 28 November 2023 approving COSOB Reg 23-04 of 25 October 2023, on General Regulations of Stock Exchange. Main Points Instruction…
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S Korea – FSS Fines for Holdings Violations Re: Short Selling
On 26 November 2024, SK FSS fined Korea Investment, affiliate KRW 1.022bn. SK FSS disciplined Korea Investment Holdings and Korea Investment & Securities. Document dated 26 November 2024, received from FSS 27 November 2024, summarized on 29 November 2024. Korea Investment Holdings Imposed KRW 72mn fine for negligence against the firm, issued a caution against…
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U.S. – SEC Fines for Short Selling Violations
On 26 November 2024, SEC settled charges against FiveT for short selling violations SEC charged FiveT Capital AG (FiveT) for buying stock in public offerings of securities for advisory clients after short selling the same stock during a prohibited period. Allegations FiveT violated SEA Rule 105 of Reg M (17 CFR 242.105) while short selling…
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S Korea – FSC Revision to Short Selling Rules
On 21 November 2024, SK FSC proposed revisions to statutes on short selling. SK FSC, SK GVT proposed revisions to the Enforcement decree of the capital markets act, Regulations on financial investment business, as per revised Capital markets act. Follows SK FSC September 2024 said short sales improvements were approved. Revisions to Enforcement Decree For…
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Australia – ASIC Fines for Substantial Shareholding Reporting Failure
On 20 November 2024, AST ASIC said Mr Hatch was convicted and sentenced for failing to disclose his substantial shareholding in Copper Strike Limited and providing false information. He was sentenced to six months imprisonment, released immediately upon paying a AUD 2,000 fine; conditional release requires good behavior for 12 months. Pleaded guilty to authorizing…
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U.K. – Trading Plan for NatWest Shareholding
On 18 November 2024, UKP issued update on the disposal of £1bn worth of government-owned NatWest Group shares, representing approximately 3.2% of the company. UK GVT's remaining shareholding represents approximately 11.4% of voting rights in NatWest which demonstrates continued progress being made towards the UK GVT's intention to return its shareholding in NatWest to private…
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