On 28 October 2022, NOR GVT launched foreign investment security review. NOR GVT appointed a committee to investigate whether there is a need for increased control of foreign investments and other economic activity to protect national security. Screening mechanism has been in development since Security Act was force in 2019. This mandates notification of changes…
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U.K. – GVT Royal Mail Share Acquisition
On 31 October 2022, UK GVT decided no action on the takeover / acquisition by Vesa Equity. UK GVT decided to take no further action under its national security powers on the proposed increase in shareholdings by Vesa Equity Investment in Royal Mail. Proposed acquisition of increased shareholdings in Royal Mail had been called for…
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U.S. – FINRA Short Selling Reporting FAQs
On 27 October 2022, FINRA provided FAQs about short selling reporting. FINRA issued FAQs on short selling reporting requirements under FINRA Rule 4560. FAQs pertains to the reporting to FINRA of short positions in OTC Equity securities, as defined in FINRA Rule 6420, and securities listed on a national securities exchange. Short Interest Reporting Specified…
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U.K. – CMA NEC Software/Capita Takeover
On 21 October 2022, UK CMA consented to derogation from 21 December 2021, initial enforcement order on takeover by NEC Software Solutions UK Limited of SSS Public Safety Limited and Secure Solutions USA LLC (previously part of Capita plc).
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Taiwan – FSC Limits Daily Short Selling
On 21 October 2022, TAI FSC introduced measures to protect the rights of investors and avoid the accelerated decline of individual stock prices due to short selling transactions. For listed/OTC stocks and Taiwan depository receipts through the securities lending system, if the closing price on that day falls by more than 3.5%, SBL prices for…
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S Korea – KRX Short Selling Rules Revision
On 20 October 2022, KRX started enforcement of strengthened designation policy for overheated short-selling issues in its markets (KOSPI, KOSDAQ, KONEX) on 24 October 2022. In September and October, KRX developed an electronic system and carried out mock trading. Expects that number of designations' of overheated short selling issues and number of days on which…
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