On 19 March 2024, the short selling turnover of HK market at midday amounted to $9.7 billion, or 23.8% of the turnover of securities eligible for short selling. Previous day short selling turnover percentage was 19.2%
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S Korea – FSS Exercise of Voting Rights
On 15 March 2024, SK FSS held meeting with asset management companies. SK FSS held a meeting with executives from 10 major asset management companies and SK FIA, in order to discuss major issues re their exercise of voting rights. Follows SK FSS April 2023 set up a taskforce to revise voting guides. Meeting SK…
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U.S. – SEC Short Selling Rule Challenged
On 13 March 2024, a group of former chief economists at the U.S. Securities and Exchange Commission are supporting a request that the Fifth Circuit intervene and "correct" a pair of recent agency rules intended to bring transparency to the short-selling market.
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Brazil – Anbima on Public Takeover Proposal
On 7 March 2024, BRZ Anbima commented on CVM public takeover proposal. BRZ Anbima reported on comments it made in response to BRZ CVM consultation. Follows December 2023 BRZ CVM proposal on public takeover offers (OPA) Recommended Modifications BRZ Anbima recommended inclusion of criteria to review the valuation report. Report defines the price that will…
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India – Foreign Investment Scales Back Due to Changes in Regulations
On 11 March 2024, it was reported by the FT that due to changes made by SEBI in response to last year's short selling activity in Adani that several hedge funds have scaled back their investment in the country. Background New rules require large foreign investors — including hedge funds — betting on Indian stocks…
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UAE – DC Securities Lending, Borrowing / Takeovers
On 8 March 2024, UAE DC issued securities lending and borrowing rules (takeovers) version 2.2. The rules cover general provisions, lending agents, obligations of lending agents, lender and borrower representatives, securities lending and borrowing (takeovers) agreements. As well as collateral, central clearing procedure, fees and commission and penalties.
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