On 21 January 2020, SK FSC stated the amended 5% rule would take effect 1 February 2020. The changes to the rule are in line with SK FSC's 5 September 2019 proposal. Background Shareholding Reports Under the 5% rule, a person who holds 5% or more of the equity securities of a listed company or…
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Singapore – MAS Fines for Substantial Shareholding Disclosure
On 17 January 2020, SIN MAS issued fine for failure to disclose shareholdings. Imposed $200,000 civil penalty on Mr Lim Soon Fang for not disclosing changes in, and providing false information re. shareholding in Asia-Pacific Strategic Investments. This is the first civil penalty action by MAS for breaches of shareholding disclosure requirements since the civil…
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Sweden – New Log-in for Major Shareholding Disclosure Reporting
On 10 January 2020, SWE FI announced new login, authorization process. Key Points Reporting itself not affected and should continue to be done in same way as before. Legal persons to specify their news distributor in new solution using specified process. If no social security number or bank ID, must register with e-mail address…
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Taiwan – FSC Declaration of Shareholding
On 24 December 2019, TAI FSC amended rules for reporting of issued shares. TAI FSC amended notice for reporting of issued voting shares in the financial holding companies act, and notice for reporting of issued voting shares in the banking act. Amendments Relevant substantive beneficiaries or ultimate controllers to be added to declaration. Legal person…
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