On 14 August 2020, Rye Bay Capital LLP was fined SEK 10,000 for having notified the Swedish Financial Supervisory Authority late that a short net position in shares in Peab AB fell below a relevant disclosure threshold.
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U.S. – Form 13F Fund Manager Reports
On 31 July 2020, SEC published proposal in federal register, comment by 29 September 2020. Background On 10 July 2020, SEC proposed amendments to update form 13F for institutional investment managers. Amend reporting threshold to reflect equities markets, not been adjusted for 40 years. Form Use and Background SEA Rule 13(f) requires a manager to…
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Japan – SESC Fine on Missing Disclosure
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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