On 6 April 2023, KUW CMA issued fine to COO of Kuwait Finance House for failure to disclose shareholdings. KUW CMA issued disciplinary board decision 125/2022 (100/2022 Authority) fining Kuwait Finance House executive, due to violation of disclosure and transparency rules. Violations Mr Abdullah Mohammad Abdullah Abu Alhous, group chief operations officer, Kuwait Finance House,…
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South Africa – FSCA Short Selling Reporting Rules
On 31 March 2023, RSA FSCA issued draft standard on short sale disclosures. RSA FSCA issued draft conduct standard re reporting and disclosure of short sales. Follows December 2018, RSA FSCA released discussion papers on short selling. Draft Standard Current regulatory framework in South Africa does not prescribe requirements for the reporting and disclosure of…
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India – SEBI Share Acquisition, Takeovers
On 16 February 2023, IND SEBI issued master circular on takeover procedures, formats. IND SEBI issued master circular for procedures and formats under SEBI (substantial acquisition of shares and takeovers) regulations, 2011 (takeover regulations). Follows IND SEBI March 2022 on the system driven disclosures. Overview Enables stakeholders to have access to provisions of applicable circulars…
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India – SEBI InvIT Regulations Amended
On 14 February 2023, IND SEBI amended infrastructure investment trusts rules. IND SEBI issued the infrastructure investment trusts amendment regulations, 2023. Amend SEBI infrastructure investment trusts (InvITs) regulations, 2014, which are now renamed SEBI (infrastructure investment trusts) regulations, 2020. Key Provisions Amendments are made to clauses concerning changes in control of ownership or in controlling…
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India – SEBI Minimum Public Shareholding
On 3 February 2023, IND SEBI issued additional means to achieve shareholding. IND SEBI reviewed existing methods and introduced two additional methods to facilitate listed entities to achieve minimum public shareholding (MPS) requirements. Follows IND SEBI February 2018 issued minimum public shareholdings rules. Follows IND SEBI January 2023, modified provisions of existing framework. Methods Listed…
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Norway – DNO Issues Substantial Shareholding Disclosure
On 2 February 2023, DNO ASA, the Norwegian oil and gas operator, issued a substantial shareholding disclosure. DNO ASA passed the 5% threshold for disclosure of major shareholdings in its own shares. this is part of the Company’s ongoing share buyback program According to the major shareholding disclosure, the Company holds a total of 52,719,531…
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