On 5 March 2018, HK SFC publicly criticized Nomura on takeover research. Criticized Nomura International (HK) Limited, for breaches of HK takeover code. Also cited Lee Yuen Yee, whilst acting as financial adviser to West China Cement. Lee is a licensed representative of Nomura Hong Kong, for the regulated activity. Work done in relation to […]
On 8 February, HK SFC fined Credit Suisse $39.3mn for regulatory breach. Followed self-reporting of breaches, agreed independent reviews, and investigation. Failures in segregating client securities, and reporting direct business transactions. Complying with short selling, electronic trading requirements, contract note rules. Failures in internal controls to ensure suitable investment products sold to customers. Co-operation expedited […]
Solutions Atlantic has released an updated substantial shareholding disclosure form for Germany to reflect the changes announced by BaFin on 3 January. BaFin released a new form to reflect current section numbers of the German legislation, the WpHG. The content of the form remains the same as does submission protocol.
Solutions Atlantic released the rule set for the Marshall Islands following aosphere LLP’s announcement including it in its Rulefinder covered jurisdictions list. Being able to release this new jurisdiction right on the heels of Rulefinder’s release shows the nimbleness of RRS’ RuleBuilder component. RRS RuleBuilder enables customers of RRS to customize or introduce customer-specific rules […]
On 9 November, users of Regulatory Reporting System (RRS) gathered in NY and on the phone, as far away as India, to discuss the latest regulatory developments in the global shareholding disclosure space. It was the fourth annual meeting of the RRS User Group hosted by Solutions Atlantic. This year’s discussion focused on the classification […]
On 31 October, SEC fined Millennium $300k for short sales pre-offerings. Millennium Management LLC agreed to pay over $630,000 to settle SEC charges. Alleged Violations Company violated the anti-manipulation provisions of the federal securities laws. Firm shorted US stocks in companies which were planning for follow-on offerings. After shorting, the firm then illegally bought the […]