On 26 January 2024, UK FCA issued PMB 47 focused on short selling rules. UK FCA issued primary market bulletin (PMB) 47 that covered Short Selling Regulation developments as well as the Credit Rating Agency UK Market Share Report for 2022. Short Selling Regulation Following consultation process on the UK Short Selling Regulation, UK GVT…
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Poland – FSA Krzysztof Gawla Substantial Shareholding Penalties
On 30 January 2024, POL FSA upheld decision of POL FSA to impose the fines of 20,000 PLN, 140,000 PLN, 220,000 PLN, 40,000 PLN, 110,000 PLN, 200,000 PLN, 140k PLN. Background On July 2023, POL FSA fined Krzysztof Gawla for various violations related to not notifying certain companies and the Commission about changes in substantial…
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Germany – BaFin Securities Control Ordinance: RE Significant Shareholding
On 15 January 2024, GE BaFin issued rules on notification of significant shareholding. BE BaFin announced Securities institution owner control ordinance, WpI-InhControlV. Follows GE GVT December 2023 issued law on advertisement and documents. Control Ordinance The full title of the legislation is the Ordinance on advertisements in accordance with Section 24 of the Securities Institutions…
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Spain – CNMV Short Selling RE: Grifols-Gotham
On 23 January 2024, ESP CNMV issued statement in relation to Grifols case. ESP CNMV statement in relation to Grifols and related Gotham City Research report. ESP CNMV has not detected, from Jan. 9 until today, any specific privileged information pending publication representing asymmetric information between different investors. Therefore it has not been necessary to…
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U.K. – BoE Discuss Short Selling
On 22 January 2024, UK BoE issued minutes of November 2023 Securities lending committee meeting. UK FCA updated that UK Treasury had published a draft Statutory Instrument for the new UK short selling regime, and had asked for technical comments from the market. UK Treasury had announced plans to publish the final Statutory Instrument in…
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China – CSRC Tries to Talk Hedge Funds Down from Short Selling
On 24 January 2024, Reuters reported that China's securities regulator the China Securities Regulatory Commission has asked several hedge funds to restrict short selling of stock index futures. Request by CSRC is part of its wider plans to stabilize the country's declining stock markets China's blue-chip CSI300 Index fell to near five-year lows this week…
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