On 2 March 2023, the global hedge fund industry trade body, the Managed Funds Association (MFA), suggested in a letter to Britain's HM Treasury that it should dispense with short selling disclosure to the public. Britain is currently reviewing its short selling regulations.
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Rulefinder Alerts to Temporary Short Selling Bans
On 28 February 2023, Rulefinder alerted subscribers to new temporary short selling bans in S Korea issuers. These short selling bans will be effective on 2 March 2023.
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Taiwan – FSC Daily Limit of Short Selling Orders Adjusted
On 23 February 2023, TAI FSC adjusted the daily intraday limit of short selling order, it shall not exceed 30% of average daily trading volume for previous 30 business days. If the balance of short selling together with balance of short trading exceeds 20%, shall follow operation directions for the allocation of limits for margin…
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Japan – METI Fair Acquisition / Takeover Study
On 22 February 2023, JPN METI invited comments, info mainly from listed firms, investors. Aim to deepen analysis, consideration of major items under discussion by study group. Concern matters including principles of acquisitions in general, conduct of directors and BoD regarding takeover proposals, raising transparency related to acquisitions. Preventing acts that distort shareholder decision-making, an…
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U.S. – SEC Advisor HITE Hedge Short Selling
On 21 February 2023, SEC charged IA firm with violating a trading rule. SEC filed a settled complaint against investment advisory firm HITE Hedge Asset Management LLC (HITE) for short selling in violation of SEC Rule 105 of Regulation M. HITE allegedly purchased stock in public offering for 5 private fund clients after short selling…
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Australia – FIRB Compliance with Foreign Acquisitions & Takeovers Act
On 20 February 2023, AST FIRB issued warning regarding investor compliance. AST FIRB reminded that since 1 January 2021, all foreign persons who are given a no objection notification or exemption certificate have been required to notify AST GVT. Specifically, required to notify the AST GVT no later than 30 days after taking each specified…
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