On 18 July 2023, LIC FMA updated on lowered notification threshold for net positions. EC reviewed short selling reporting threshold appropriateness, amended Reg 236/2012 (SSR). EU Reg 2022/27 permanently changes the threshold for reporting significant net short selling in shares to competent authorities from 0.2% to 0.1%. Art 5(2) Reg 236/2012 replaced: reporting threshold is…
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Poland – FSA Substantial Shareholding Disclosure Ruling
On 17 July 2023, POL FSA announced Provincial Administrative Court dismissed Daniel Mzyk's complaint against its decision of March 2018. Case was returned to Provincial Administrative Court after the Supreme Administrative Court in Warsaw accepted cassation appeal filed by Daniel Mzyk on 28 July 2022. Fine of PLN 1,000,000 imposed for failing to notify POL…
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Thailand – SET Accurate Disclosure Reminder
On 14 July 2023, Thai SET reminded companies to disclose complete data. Thai SET requested listed companies to pay closer attention to the disclosure of information in their financial statements and ensure it is accurate and complete. Especially statements that are disseminated through Thai SET's information system. Background The advice follows several discrepancies found in…
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U.S. – FINRA Fines for Short Position Reporting Failure
On 11 July 2023, FINRA issued AWC on short interest position reporting. FINRA issued Letter of acceptance, waiver, and consent (AWC) to RBC Capital Markets LLC (RBC) for overreporting short positions and supervisory system failures. Allegations Between December 2018 - April 2021 RBC violated FINRA Rule 4560, FINRA Rule 2010 by overreporting shares associated with…
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Rulefinder Alerts to New Temporary Short Selling Bans
On 14 July 2023, Rulefinder identified new temporary short selling bans in S Korea. Short selling ban is in effect for 17 July 2023.
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U.K. – Treasury Further Consultation: Short Selling Reporting
On 11 July 2023, UK Treasury consulted on sovereign debt, default swaps. UK Treasury consultation seeks views on the government’s proposal to delete aspects of the Short Selling Regulation related to sovereign debt and credit default swaps. Follows UK Treasury December 2022 call for evidence on short selling rules. Also follows UK Chancellor July 2023…
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