On 16 January 2023, IND RBI issued a master direction on substantial shareholding in banks. IND RBI issued the Master direction RBI (acquisition and shareholding or voting rights in banking companies) directions, 2023 and accompanying guidelines. The master direction may be read along with the Guidelines on acquisition and shareholding or voting rights in banking…
Read more
France – ACPR Financial Holding Companies
On 12 January 2023, FR ACPR clarified position on holding company oversight. FR ACPR issued position 2022-P-02 re financial holding companies, mixed financial holding companies, parent companies and investment holding companies' obligations. Specifications re approval obligations, exemption from approval, as well as prudential obligations according to the place of the holding in the chain of…
Read more
Taiwan – TSA US Stock Acquisition / Takeover Rules
On 10 January 2023, TAI TSA said TAI FSC amended rules on foreign securities. TAI TSA informed members re TAI FSC amendment on regulations governing securities firms accepting orders to trade foreign securities to protect investors' interest. Background Considered differences between public acquisitions of U.S. stocks and mini-tender offers where buyer reserves right to extend…
Read more
Busy Fourth Quarter for Foreign Direct Investments
It was a busy fourth quarter for regulations concerning foreign direct investment. It seems that not all were watching the World Cup. Read the full article
Read more
U.K. – Gvt – National Security Acquisition / Takeover
On 9 January 2023, UK GVT updated guidance on UK GVT notification rules. UK GVT updated guidance for investors and businesses on the legal requirement to tell it about sensitive acquisitions / takeovers under national security and investment act (NSIA 2021). Follows UKP November 2020 issued bill on national security and investments. Updated Guidance Content…
Read more
Australia – GVT Foreign Acquisition / Takeover
On 9 January 2023, AST GVT registered 28th compilation of the Foreign acquisitions and takeovers act 1975, showing the text of the act as amended and in force 1 January 2023. Supersedes 27th compilation noted above; issued to reflect changes made by the Treasury laws amendment (2022 measures no. 3) act 2022, which updates figures…
Read more