On 15 August 2023, CBOE BZX fined Goldman Sachs re options position limits. CBOE BZX issued letter of consent to Goldman Sachs on position limit procedures. Allegations From about October 2018 to February 2021, Goldman Sachs reported 17,600 positions in 23,500 instances with incorrect effective date, due to technological system logic issue. Impacted Large Options…
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Italy Consob Identifies Reduced Short Selling in Issuers
On 14 August 2023, Consob published reduced short selling in issuers: Azimut Holdings and Saras.
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Rulefinder Alert New Temporary Short Selling Bans
On 16 August 2023, Rulefinder identified new temporary short selling bans in S Korea issuers. Effective: Temporary short selling bans effective for one trading day on 17 August.
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Taiwan – FSC Issues Consultation to Lower Substantial Shareholding Threshold
On 9 August 2023, TAI FSC published consultation paper on the above amendments. The consultation is open for 60 days, until 11 October 2023. Background: Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%. Shareholders will be able to submit their reports through file uploads on the market observation post system…
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Germany – BaFin Substantial Shareholding Violation
On 10 August 2023, GE BaFin issued €600,000 fine to The Healing Company. GE BaFin imposed a fine of €600,000 on The Healing Company Inc on 15 March, 2023. The Healing Company Inc violated obligations of section 33(1) of German securities trading act (WpHG) by not submitting substantial shareholding notifications in a timely manner. Violations…
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U.S. – Gov’t Limits Foreign Investment in China
On 9 August 2023, White House signed order to limit investment in China. White House issued executive order EO 14105, Addressing United States investments in certain national security technologies and products in countries of concern. Goal to facilitate legitimate cross-border investments while preventing Chinese jurisdictions, including Hong Kong, from exploiting US technological investments. Investment Restriction…
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