On 5 July 2021, MLY SCM amended guidelines on compliance function. MLY SCM updated guidelines on compliance function for fund management companies. To ensure there are controls and compliance established towards ensuring investor protection and market confidence, and activities are in compliance with requirements. Amendments Amend paragraph on disclosure, to remove requirement to disclose interest…
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E.U. – EBA NCA Investment Firm Disclosures
On 25 June 2021, EBA issued report ITS on IFD disclosure by supervisors. EBA issued final draft standards of supervisory disclosure re investment firms directive. Part of phase 2 mandates of EBA roadmap on investment firms disclosure by EU NCAs. Will ensure disclosed information is comprehensive and comparable across all States. Background Follows EBA June…
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Ukraine – SEC Disclosure Requirements
On 23 April 2021, UKRN SEC discussed changes to fund disclosure. UKRN SEC took part in webinar Changes in the preparation, submission and disclosure by AMC and CII held by Ukrainian Investment Business Association on 23 April 2021. Specialists spoke in detail about significant changes in asset management companies (AMC) reporting and mutual investment institutions…
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Germany – BaFin Fines for Late Voting Rights Disclosure
On 27 January 2021, GE BaFin fined CPI €685k for voting rights disclosures. BaFin announced CPI Property Group SA €685,000 fine, imposed Jan. 19, 2021. Violated sec. 26a (1) sentence 1, German Securities Trading Act (WpHG) old version. Company did not publish the total number of voting rights within the required time.
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Brazil – CVM Failure to Disclose Stock Sale
On 1 December 2020, BRZ CVM imposed fine for failure to disclose stock sale. BRZ CVM found Jonas Spritzer Amar Jaimovick and Spritzer Consultoria Empresarial Eireli (SCEE) violated of art. 12, paragraph 1, 4 of CVM Instruction 358/021. Respondents failed to inform Ideiasnet SA of the sale of shares in the company. Violative Conduct Ideiasnet…
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Sweden Fines for Late Disclosure of Transactions
On 20 August 2020, the Swedish regulator, Finansinspektionen fined Humea AB SEK 93,700 for late transaction reporting of shares in Enzymatica AB.
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