On 13 November 2023, KUW CMA fined Ekttitab disclosure, governance violations. KUW CMA issued disciplinary Resolution No. 31/2023 fining Ekttitab Holding Company. Violated Module 10, 15 of Executive bylaws of Law No. 7/2010 and its amendments. Violations Ekttitab firm violated Module 10, article 4-1-1, item 3 re disclosure and transparency. Company's chairman of board of…
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S Korea – KRX Disclosure Violations Review
On 8 November 2023, KRX proposed revisions re securities market disclosure. KRX proposed revisions to Enforcement rules of securities market disclosure regulations, to ensure promptness when handling multiple unfaithful disclosures. Revisions Modify the term comprehensive deliberation to instead read consolidated deliberation. Add 1 penalty point for each violation, in order to prevent the penalty level…
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India – SEBI Additional Foreign Portfolio Investor Disclosures
On 31 October 2023, IND NSD issued circular on standard operating procedure (SOP) for implementation of IND SEBI circular dated 24 August IND NSD circular dated 30 August. Requested designated depository participants and custodians to comply with SOP. The SOP delineates applicability, exemption from additional disclosures, timelines and monitoring, general terms, SOP updates, provides a…
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Australia – GVT Continuous Disclosure Review
On 19 September 2023, AST GVT opened review re continuous disclosure regime. AST GVT opened a review of the 2021 amendments to continuous disclosure regime, as is required pursuant to ASTCA s 1683B, and published related Terms of reference. It said this review is required to be conducted from 14 August 2023 and must be…
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Japan – SESC 2022 Disclosure Inspection
On 10 September 2023, JPN SESC issued disclosure inspection casebook for 2022. JPN SESC published the latest issue of findings in the disclosure inspection casebook. Document dated 31 August 2023, received from SESC September 10, summarized September 12. Follows JPN SESC Sep. 2022 published disclosure inspection casebook. Casebook Includes JPN SESC's recent disclosure inspection efforts,…
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India – SEBI Additional FPI Disclosures
On 24 August 2023, IND SEBI issued circular on additional disclosures by FPIs. IND SEBI issued a circular on mandating additional disclosures by foreign portfolio investors (FPIs) that fulfill certain objective criteria. Pursuant to Regulations 22 (6) and 22 (7) under SEBI (FPI) Regulations, 2019, vide SEBI (Foreign Portfolio Investors) (Second Amendment) Regulations, 2023. Criteria…
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