On 4 May 2023, RSA FSCA updated on vetting process for CIS managers. RSA FSCA informed collective investment scheme (CIS) managers and trustees about changes to the RSA FSCA's approach to conducting criminal verification checks. Re directors and significant owners, who are natural persons, of CIS managers. Revised Approach Revised process for conducting criminal verification…
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Switzerland – SECO Screen Foreign Investment
On 10 May 2023, SWI GVT took note of results of the consultation on a new law on investment screening, consultation bill was rejected by most participants consulted. Majority against investment screening in principle as harmful to business, associated curb on economic freedom is excessive, if introduced its scope should be narrowed. Focus should be…
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S Korea – Gvt Promotes Foreign Investment
On 9 May 2023, SK GVT proposed to revise foreign investment rules. SK GVT proposed to revise the Enforcement rules of foreign investment promotion act. Amendments aim to simplify documents required for reporting foreign investment. Amendments Create a simplified investment overview form, which consists only of matters required when reporting foreign investment using unappropriated earned…
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U.K. – FB on Updating Short Selling Rules
On 9 May 2023, UK FB issued response to UK Treasury short selling plans. UK FB issued response to UK Treasury's paper seeking evidence on short selling regime. Follows UK Treasury December 2022 call for evidence on short selling rules. UK FB Response UK FB considers call for evidence represented opportunity for short selling to…
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Rulefinder Alerts to New Temporary Short Selling Ban
On 9 May 2023, Rulefinder alerted subscribers to new temporary short selling ban in S Korea. Short selling ban will be effective 10 May 2023.
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Taiwan – FSC Shareholding Notification 5%
On 4 May 2023, TAI PRL reported Securities and exchange act passing 3rd reading. After the revision, no matter whether it is alone or in name of others/spouse/children with total substantial shareholding more than 5% shares of listed company, it must be disclosed. Further disclosure is required for every 1% increase in shares of the…
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