On 25 September, the SFC updated its Takeover table to reflect the closure of offer period for Hang Pin Living Technology Company Limited (stock code: 1682). Effective Date: Takeover offer period closed on 24 September 2024.
Read more
U.S. – SEC Fines 11 Investment Managers for Major Shareholding Reporting Failures
On 17 September 2024, SEC charged 11 investment managers with major shareholding filing failures. SEC charges 11 investment managers with failing to report major shareholding. Two of the firms were also charged with failing to report large trader transactions. Involved Parties Orders filed against Ashton Thomas Private Wealth, LLC, Azzad Asset Management, Inc., Bulltick Wealth…
Read more
U.S. SEC – Fines For Illegal Short Selling
On 19 September 2024, SEC settled charges re Rule 105 short selling violations. SEC settled with Gates Capital Management, Inc. re Rule 105 short selling violations. Bought stock in securities offering for fund clients after shorting same for fund clients. Alleged Violations 30 August through 1 September 2023, Gates Capital sold short 90k ROL shares…
Read more
E.U. – ESMA Short Selling Non-Listed Shares FAQ
On 17 September 2024, ESMA issued FAQ on determination of net short position. ESMA issued new FAQ concerning the Short Selling Regulation (SSR Reg 236/20212). Determination of Net Short Position Q: ESMA_QA_2282 Asks, when calculating net short positions in relation to issuers having both listed and non listed shares, should the issued share capital also…
Read more
Japan – FSA Proposed Revisions Proprietary Trading (incl. Takeovers)
On 13 September 2024, JPN FSA proposed revisions re proprietary trading system. JPN FSA proposed revisions to cabinet orders and cabinet office ordinances with regard to the Financial instruments and exchange act (FIEA) enacted on 22 May 2024. Follows JPN FSA December 2022 issued 2nd interim report of market system working group. Also follows JPN…
Read more
Taiwan – SET Revised Regulations to Enhance Supervision Re: Short Selling
On 21 June 2024, Thai SET revised regulations (re: short selling) to enhance supervision. Thai SET revised regulations to enhance supervision, covering short selling, high-frequency trading (HFT), disclosure of investors with inappropriate trading behavior. Document dated 21 June 2024, received from Thai SEC 13 September 2024. Revisions Criteria for market capitalization increased; the average monthly…
Read more