Luxembourg CSSF Fines for Failure to Report Sensitive Industries Shareholdings
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U.K. – Treasury No Longer Controlling Shareholder Re: NatWest
On 28 March 2024, UK Treasury confirmed successful trading plan means government no longer controlling shareholder in NatWest, its shareholding now below 30%. This is down from the peak government shareholding< of around 84%, since trading plan started in Aug. 2021 approximately £5.8 billion in proceeds has been raised. Reduction of shareholding to around 29.8%…
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S Korea – FSS Cautions on Equity Disclosure
On 24 March 2024, SK FSS issued violations, precautions re equity disclosure. SK FSS updated on violations, precautions re equity disclosure by listed companies. Violations/Precautions The acquisition of convertible bonds (CBs), bonds with warrants, or exchangeable bonds equivalent to 5% or more of the total number of issued stocks shall be reported. The stock acquisition…
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Pakistan – SEC Report Shareholding Change
On 25 March 2024 PAK SEC issued circular re filing return with the registrar. PAK SEC issued a circular re filing of return with registrar for change in shareholding. Filing Per the Companies act, 2017, it is mandatory for an unlisted company to report any change of more than 25% in its shareholding, membership or…
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Luxembourg – CB Foreign Direct Investment Survey
On 27 February 2024, LUX CB informed of foreign direct investment survey. LUX CB issued documentation for the foreign direct investment (FDI) 2023 survey. Main Points The FDI survey applies to all resident credit institutions that have direct investment relationships with their investors abroad or their non-resident affiliates or branches. The forms, duly completed and…
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Poland – FSA Krzysztof Gawla Substantial Shareholding Penalties
On 30 January 2024, POL FSA upheld decision of POL FSA to impose the fines of 20,000 PLN, 140,000 PLN, 220,000 PLN, 40,000 PLN, 110,000 PLN, 200,000 PLN, 140k PLN. Background On July 2023, POL FSA fined Krzysztof Gawla for various violations related to not notifying certain companies and the Commission about changes in substantial…
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