On 14 April 2023, Fed issued approval of Credit Suisse takeover in the US. Fed approved UBS Group AG to acquire the US subsidiaries of Credit Suisse Group AG. Follows March 2023 approved UBS takeover of Credit Suisse in Switzerland. Implementation UBS has committed to provide Fed with implementation plan, to be updated quarterly. Will…
Read more
Norway – Gov’t Proposes Changes to Foreign Direct Investment Screening
On 12 April 2023, the Norwegian government submitted a bill proposing amendments to the Norwegian Security Act which regulates the screening of foreign direct investment as it relates to substantial shareholdings.
Read more
Rulefinder Alerts to Temporary Short Selling Ban
On 18 April 2023, Rulefinder provided an alert to new temporary short selling ban in an issuer on the Korean Exchange. The short selling ban is effective on 19 April 2023.
Read more
S Korea – FSS to Revise Voting Guidelines for Asset Management
On 13 April 2023, SK FSS set up a task force to revise voting guidelines. SK FSS launched task force to enhance the effectiveness of voting guidelines, which support responsible voting by asset management companies on key corporate matters. Task Force Will analyze voting rights and disclosure practices of asset management companies. Explore ways to…
Read more
Luxembourg – CSSF Takeover Bids Law
On 11 April 2023, LUX GVT issued consolidated version of law of 19 May 2006, transposing dir 2004/25 on public takeover bids, applicable from 24 July 2022.
Read more
Kuwait – CMA Fines for Failure to Disclose Shareholdings
On 6 April 2023, KUW CMA issued fine to COO of Kuwait Finance House for failure to disclose shareholdings. KUW CMA issued disciplinary board decision 125/2022 (100/2022 Authority) fining Kuwait Finance House executive, due to violation of disclosure and transparency rules. Violations Mr Abdullah Mohammad Abdullah Abu Alhous, group chief operations officer, Kuwait Finance House,…
Read more