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…
Read more
U.K. – Takeover Panel Acting in Concert Paper
On 20 February 2023, UK TO Panel published revised takeover code, reflecting instrument 2022/6 changes - presumptions of definition of acting in concert and related matters. Also advised that practice statement no 12 (rule 9 and the interests in shares of clients whose funds are managed on a discretionary basis) had been withdrawn. Minor consequential…
Read more
EC – Foreign Direct Investments Control
On 17 February 2023, EC announced evaluation and review of FDI regulation. EC announced evaluation, review of reg on screening of foreign direct investments. Follows EC September 2022 issued FDI screening and export control reports. Context EU framework for screening of foreign direct investments (FDI) Regulation 2019/452. The regulation aims to improve EU’s capacity to…
Read more
India – SEBI Share Acquisition, Takeovers
On 16 February 2023, IND SEBI issued master circular on takeover procedures, formats. IND SEBI issued master circular for procedures and formats under SEBI (substantial acquisition of shares and takeovers) regulations, 2011 (takeover regulations). Follows IND SEBI March 2022 on the system driven disclosures. Overview Enables stakeholders to have access to provisions of applicable circulars…
Read more
S Korea – FSC Names Foreign Firms for Naked Short Selling
On 9 February 2023, the FSC publicly announced the sanctioning of five firms for naked short selling.
Read more
Rulefinder Alerts to New Temporary Short Selling Bans
On 17 February 2023, Rulefinder alerted to new temporary short selling bans in S Korea. These short selling bans will be in effect on 20 February 2023.
Read more