On 13 July 2021, CSE issued notice on takeover disclosure requirements. CSE issued guidance, expectations on disclosing certain acquisitions by listed issuers. Exchange reviewed acquisitions of private companies by listed issuers that do not seem to meet fundamental changes criteria, yet significant number of listed securities. Cited CSE Policy 6 distributions, for acquisitions involving issuance…
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China – CSRC Investment Banking Business
On 9 July 2021, CHI CSRC issued opinions on supervising securities firms. CHI CSRC issued opinions on supervision of securities firms engaging in investment banking business under the registration system, to improve their intermediary roles. Aims to address problems such as poor internal controls and corporate governance. Opinions Clarifies standards and scope of supervision responsibilities…
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Malaysia – SCM Fund Management Disclosure
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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