On 4 December 2024, UK FCA updated on list of shares for short selling regime. FCA updated its guidance page on notification and disclosure of net short positions to notify of upcoming changes to UK list of exempted shares following biannual review. Follows UK FCA December 2023 updated shares list re short selling regime. Update…
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Argentina – CNV Substantial Shareholding Reporting
On 5 December 2024, ARG CNV has made the obligation to report more flexible. ARG CNV issued General Resolution 1035/2024 re flexibility of substantial shareholdings report. Highlights Criteria and deadlines will be modified to ensure data transparency and improvement. From 5% threshold, substantial shareholding must be reported when reach multiples of value. 10 business days…
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India – Gov’t Raising Foreign Direct Investment in Insurance Companies
On 26 November 2024, the central government in India announced several proposals aimed at reforming the insurance sector, including raising the FDI limit for Indian insurance companies from 74% to 100%. Comments on the proposed amendments should be submitted by 10 December 2024 eMail to consultation-dfs@gov.in Government Office Memorandum is available here.
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Hong Kong – SFC Takeover Table Updated
On 6 December 2024, the SFC updated its Takeover table to reflect the following: new offer period has commenced for Vertical International Holdings Limited (stock code: 8375) from 5 December 2024. Visit SFC Takeover Table
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S Korea – FSS Fines for Short Selling Violations
On 26 November 2024, SK FSS fined Mirae Asset Securities for liquidity fails. SK FSS fined Mirae Asset Securities, for violating the duty to maintain liquidity ratio and submit business reports, the ban on credit extension to affiliates' executives. Disciplinary Actions Imposed a caution, KRW 696mn penalty surcharge, KRW 578mn fine for negligence against firm;…
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Algeria – COSOB Qualified Investor Definition
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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