On 1 October 2024, the Act on Register of Beneficial Ownership of 2019 takes effect in Norway. Transition phase will end on 31 July 2025 when all relevant entities must comply Purpose of the registry is to fight against corruption, terrorist financing, and other financial crime. Full press release is here.
The Federal Council of Switzerland has issued a Consultation which proposes to increase the initial reporting threshold for substantial shareholding from 3% to 5%. Comments must be submitted by 11 October 2024 Send comments electronically (a Word version in addition to a PDF version) to email address: vernehmlassungen@sif.admin.ch Full press release can be found here.
On 30 September, the SFC issued its September Takeover Bulletin. Highlights: Time to register in the Electronic Submission System (ESS) Quarterly activity on Takeovers
On 25 September 2024, SK FSS published Integrated short selling guideline. SK FSS formulated the Integrated short selling guideline to enable investors to verify the illegality of short selling and launched the customized investor support system. Follows SK FSC, FSS June 2024 launched short sale reform measures. Overview of Integrated Guideline The balance available for […]
On 30 September 2024, the SEC’s new reporting regime for SEC Schedule 13G becomes effective. Filings Deadlines: QIIs & Exempt Investors: 45 days after calendar quarter in which substantial shareholding exceeds 5%. Passive Investors: Within 5 business days after acquiring substantial shareholding of more than 5% [Rule 13d-1(c)]. Amendments: All 13G Filers: Within 5 business […]
Bloomberg reports that Sydney-based funds manager Platinum Asset Management has refused a takeover proposal from hedge fund Regal Partners Ltd. bid undervalued company at $359m offering from Regal Platinum’s board unanimously concluded that the proposed deal was “not in the best interest of Platinum shareholders,” at least “in its current form.” Platinum has struggled with outflows […]