Tag Archives: disclosure

Poland – FSA Shareholding Disclosure Reporting Failure

On 9 August 2022, POL FSA fined firm's shareholder, Wojciech Babinski. POL FSA published its Jul. 14, 2022 decision to fine Wojciech Babinski PLN 7,130,000 for 13 violations of obligation to notify change after sale of shares in a company. Disclosure Breaches Babinski was the majority shareholder of the company, from its establishment, and during…
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Singapore – MAS Shareholding Disclosure FAQs

On 2 August 2022, SIN MAS issued FAQs to disclose interest in listed security. SIN MAS issued revised FAQs on disclosure of interests in listed securities, under SFA. Securities And Futures Act SFA, Part VII (disclosure of interests), imposes obligations. Scope Applies to director or CEO of a listed corporation (except a foreign corporation with…
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India – SEBI 3rd Amendment Capital and Disclosure

On 25 July 2022, IND SEBI issued Securities and Exchange Board of India (issue of capital and disclosure requirements) (third amendment) regulations, 2022. Inserts chapter X-A on social stock exchange after chapter X and before chapter XI. Regulations shall come into force on the date of their publication in Official Gazette
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Russia – Disclosure Information Criteria

On 19 July 2022, RUS NFA initiated development of issuer disclosure criteria. RUS NFA initiated development of new mechanisms/criteria for information disclosure by Russian issuers as currently firms have limited amount of information they disclose. Summary Limited disclosure of information by issuance documents leads negative consequences, making it difficult for investors to develop risk policies,…
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Hungary – CB Voting Rights In Takeovers / Acquistions

On 14 July 2022, HUN CB discussed shares with voting rights in acquisitions. HUN CB published article by Dr. Kornél Komlósi, HUN CB market compliance lawyer on the effects of shares with voting rights to determine control influence in acquisitions. Main Points The Capital Markets Act provisions apply to acquisitions of control of a target…
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Germany – BaFin Voting Rights Disclosure Fine

On 20 June 2022, GE BaFin fined CEWE Stiftung & Co. €600,000 for breach. Ge BaFin announced CEWE Stiftung and Co. €600,000 fine, imposed on 1 June 2022. Company did not publish the total number of voting rights within the required time. Breached section 41(2) in conjunction with section 1 of German securities trading act.…
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