On 5 June 2023, HK SFC concluded consultation on changes to position limit regime. The proposed changes include imposing obligations on asset managers of funds and amending the Securities and futures (contracts limits and reportable positions) rules. Plans for the law changes to be effective in Decemebr 2023, pending the legislative process.
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First Half Foreign Direct Investment Catch-up
Most regulatory activity for foreign direct investment in this first half of 2023 has been focused on issuing consultations for proposed changes to existing laws. Read the full article.
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Canada – CSA Transition to SEDAR+ System Delayed
On 1 June 2023, CSA reported a deferred launch of new SEDAR+ filing system. CSAs now intend to launch SEDAR+ on 25 July 2023, with contingency date in September. Noted process of assuring quality migration of large volumes of data from multiple legacy systems in taking longer than planned; added additional six weeks to project.…
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Hong Kong – SFC Illegal Short Selling Operation
On 31 May 2023, HK SFC conducted operation against illegal short selling. HK SFC conducted a joint search operation with the Commercial Crime Bureau of the Police, against an individual suspected of illegal short selling and fraudulent activities. Allegation Individual used fabricated statements to deceive 2 brokerage firms, was arrested of dealing with property known…
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Germany – BaFin Acting in Concert Examples Shareholding and Takeovers
On 30 May 2023, BaFin published an article regarding collaborative engagement among institutional investors. covers collaborative engagement with respect to ESG topics notes the possible unintended consequences related to acting in concert within German substantial shareholding and takeover requirements. presents various scenarios to help illustrate the topic provides BaFin’s assessment as to whether relevant understanding…
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S Korea – Rulefinder Alert to Temporary Short Selling Ban
On 1 June 2023, Rulefinder alerted to a new temporary short selling ban in S Korea. This short selling ban will be effective for 2 June 2023.
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