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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Australia – Takeover Panel Revises Guidance on Protections and Control
On 8 August 2023, AST TO Panel revised guidance re deal protection, insiders. AST TO Panel issued revised Guidance note 7: deal protection (previously named Lock-up devices), revised Guidance note 19: insider participation in control transactions. This is the fifth issue as well as third issue of the guidance notes, respectively. Context AST TO Panel…
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U.K. – MFA Backs FCA’s Proposed Changes to Short Selling Regulation
On 7 August 2023, the Managed Funds Association (MFA) issued a letter in support of the FCA's proposed changes to its Short Selling Regulation (SSR) relating to sovereign debt and credit default swaps (CDS). Background: The MFA supports the UK Government’s proposal to eliminate: The cover requirement for short selling sovereign debt; The ban on…
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China – SZSE Data Disclosure Evaluation
On 4 August 2023, SZSE amended guidelines on evaluation of listed firms. SZSE amended SZSE guidelines for self-regulatory supervision of listed companies no. 11 and change name to evaluation of information disclosure of listed companies. Follows SZSE January 2022 issued self-regulatory guidelines for listed firms. Amendments Scope of evaluation includes the information disclosure and operation…
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Rulefinder Alerts to Temporary Short Selling Bans
On 7 August 2023, Rulefinder alerted subscribers to new temporary short selling bans in S Korea. Temporary short selling bans will be effective for 1 trading on 8 August 2023.
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