On 6 December 2019, EU ESMA issued latest MiFID II DVC data, November 1-October 1 calculations. Number of new breaches is 70: 56 equities for the 8% cap, applicable to all trading venues, and 14 equities for the 4% cap, that applies to individual trading venues. Trading under waivers for new instruments in breach of […]
On 5 December 2019, TAI FSC provided a 6-month adjustment period for companies who exceeded the foreign investment limit due to falling interest rates in the bond market. If insurance firms fail to reinvest international board bonds quickly, arising on foreign currency obtained from previous redemption, may exceed the foreign investment limit. After implementation of […]
On 3 December 2019, BRZ CVM issued ins 616/2019 on changes re takeover bids regime. Some changes not in version submitted to consultation are result of feedback received. I.e. publication requirements for takeover bids were relaxed, suppression of sell option of non-OPA shareholders due to increase in shareholding when it reaches 2/3 limit. Art 35 […]
On 2 December 2019, BRZ CVM published report of shareholders rights. Report highlights main results of 1st phase of the working group (WG) main project. Overview Originally in English, study is available on ministry of economy, BRZ CVM websites both in its original version and also as free translation into Portuguese. Analyzes legal dispute resolution […]
On 29 November, 2019, NLD GVT, NLD SJ said most of law will be in force on 1 December 2019. From date of implementation, a remuneration report for the 2019 financial year must be prepared for the first time in 2020 and submitted to the General Meeting, even if no new remuneration policy has been […]
On 29 November 2019, TSE set up study group on quasi-controlled listed firms. TSE established a study group to review the protections for minority shareholders. In light of recent events and impact on framework of quasi-controlled listed firms. Scope of Group The study group will discuss such matter as managing shareholder conflict of interest. Including […]