On 22 October 2023, KUW CMA amended capital market executive bylaws. KUW CMA issued Res 144 of 2023 amending executive bylaws of capital markets law. Highlights of Amendments Amended module 2 regarding schedule of the KUW CMA services fees as per annex 1. Module 11 re dealing with securities was also amended as per annex…
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U.S. – SEC Fines $2.5M for Short Selling Violation
On 19 October 2023, SEC settled short selling charges against Anson Advisors. SEC settled charges against Canadian Anson Advisors for violations of the SEC's short selling rule, Rule 105 of Regulation M (17 CFR 242.105) under the Exchange Act. Allegations Anson purchased stock in three public offerings for private fund clients after selling short the…
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Australia – ASIC Takeovers, Relevant Interests
On 18 October 2023, AST GVT registered ASIC corporations (amendment) instrument 2023/774, to amend the ASIC corporations (takeover bids) instrument 2023/683 and ASIC corporations (compulsory acquisitions and buyouts) instrument 2023/684 above. Published explanatory statement; instrument 2023/774 commences 19 October 2023.
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S Korea – FSS Strengthens Short Selling Measures
On 15 October 2023, the FSS released its intentions to strengthen short selling measures. This follows a review conducted by the FSS into short selling activity. Expand short selling investigations into major global IBs. Closely cooperate with overseas supervisory authorities in order to redress illegal short selling by overseas financial investment companies. Strengthen inspections on…
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Philippines – PSE Short Selling Guidelines
On 2 October, the PSE Guidelines on short selling transactions became effective following regulatory approval of critical components of securities borrowing and lending and subject to the official launch of the Short Selling Program and the related system by the PSE. PSE is set to launch their short-selling program with the target date of 23…
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S Korea – FSS Uncover Illegal Short Selling
On 15 October 2023, SK FSS issued a plan re illegal short selling by global IBs. SK FSS announced investigation results re illegal short selling by two global investment banks (IBs) as well as its future plan to prevent reoccurrence. Investigation Results Found that two Hong Kong-based global IBs providing prime brokerage services have conducted…
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