On 17 July 2020, JPN SESC recommended disclosed fine on Freesia Macross. JPN SESC recommended a ¥12mn fine against Freesia Macross Co., Ltd., for failing to disclose its trades with its board member in its FY3/17 and FY3/18 securities reports. Having not included the relevant information in its consolidated financial statements. Accordingly, the company violated…
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Belgium FSMA Late Transactions Disclosure
On 3 June 2020, BEL FSMA settled with firms for late transactions disclosure. BEL FSA agreed settlement of €55,000 between Sopal International SA and Frabelco SA, and a nominative publication on the FSMA website for late reported transactions. Details Mr Francis Lambilliotte was vice-chairman of the board of directors of Hamon & Cie NV from…
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Sweden – FI Late Substantial Shareholding Disclosure Fine
On 1 June 2020, SWE FI issued fines to Neongelb, Kringesche re notification. SWE FI fined Neongelb Invest and Kringesche Vermögensverwaltungs GmbH for late disclosure of Stillfront Group shares' acquisition, each fine amounts to SEK 2,400,000. Factual Basis Neongelb Invest GmbH (HRB 147961) and Kringesche (HRB 147903) both must pay a fine for late reporting…
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China – SZSE Related Transaction Disclosure
On 29 May 2020, SZSE issued guidelines on disclosure of transactions. Guidelines on information disclosure - transactions and related party transactions. Guidelines Improve the rule structure and convenience of use; delete overlapping regulations. Simplify requirements for purchasing assets from related parties at a high premium; introduce audit/evaluation exemptions for certain types of parties and transactions.…
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Russia – Issuer Disclosure Guidelines
On 7 May 2020, RUS CB announced deadlines for issuers to disclose Q1 information. Issuers must publish text of issuer's report for Q1 2020 no later than 15 June 2020. The list of affiliates for Q1 2020 should be disclosed no later than 25 May 2020. 2019 annual accounting statements to be published by 27…
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U.S. – SEC Importance Of Disclosure, Covid
On 8 April 2020, SEC detailed disclosures key for markets, in Covid. Chair Clayton statement on importance of disclosure, fight against pandemic, facilitate engagement to mitigate economic contraction, evolve strategies, address challenges. Firm Disclosures Respond to investor interest firm's currrent operational, financial status. Response to Covid, progress to protect health, well-being of workforce, clients, how…
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