On 15 July 2024, KUW CMA issued circular regarding the transitional period for the mandatory application of the electronic disclosure system in XBRL. Concerns all listed companies, licensed persons, collective investment schemes, investment funds under liquidation, KUW CMA registered auditors and market dealers. Updated version of electronic disclosure system using XBLR launched on 14 July…
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Russia – Gov’t Updated Disclosure Rules
On 2 July 2024, RUS GVT amended significant firms' disclosure regulations. RUS GVT issued decree 569 amending decree 73 on the temporary procedure for disclosing and providing information by business entities that are economically significant organizations and certain other persons. Follows, RUS GVT January 2024, decree on disclosure by significant firms. Summary Economically significant organizations…
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South Korea – FSC Disclosure on Net Positions
On 21 June 2024, SK FSC proposed revisions re disclosure on net positions. SK FSC proposed revisions to Enforcement decree of the financial investment services and capital markets act, to strengthen the criteria for disclosure on net positions. To oblige disclosure on net positions, where the net position ratio is more than 0.01% (excluding less…
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Norway – Govt Changes to MiFID II, MiFID
On 3 June 2024, NOR GVT issued two EEA notes on the potential changes to both MiFID II and MiFIR, setting out the areas for consideration for changes to be made. On MiFID II, NOR GVT set out the change by introducing Directive 2024/790, of 28 February 2024 amending Dir 2014/65, on markets in financial…
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Hong Kong- SFC Update Disclosure of Interests Substantial Shareholding
On 24 May 2024, HK SFC issued circular on treasury units of REITs. HK SFC issued circular to management companies of SFC-authorized real estate investment trusts (REIT), regarding treasury units of SFC-authorized REITs. Also amended the Outline of part XV of the Securities and futures ordinance (cap. 571)(SFO), disclosure of interests (DI), re mandatory electronic…
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Kuwait – CMA Fines for Disclosure and Transparency Violations
On 13 May 2024, KUW CMA fined firm for disclosure, and transparency violation. KUW CMA issued Disciplinary Resolution 76 of 2023 against The Building Company. Imposed a financial penalty against company for violating disclosure and transparency rules of Module 10 of Executive Regulations of Law No. 7 of 2010 and its amendment. Violations Violated provisions…
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