On 22 October 2023, KUW CMA amended capital market executive bylaws. KUW CMA issued Res 144 of 2023 amending executive bylaws of capital markets law. Highlights of Amendments Amended module 2 regarding schedule of the KUW CMA services fees as per annex 1. Module 11 re dealing with securities was also amended as per annex…
Read more
U.S. – SEC Adopts Changes to Major Shareholding Reporting
On 10 October 2023, the SEC issued confirmation that it is adopting amendments to the rules governing major shareholding reporting that had been proposed. The key changes from these amendments are: (a) reduction in the deadlines for disclosures of 13D and 13G Reports; (b) disclosure of cash settled securities; (c) clarification on the criteria for…
Read more
Taiwan – FSC Reporting Change in Shareholding
On 6 October 2023, TAI FSC issued order on reporting change in shareholdings. TAI FSC, TAI Justice issued order to stipulate article 25 of Securities and exchange act. When a public company organized by a single legal person handles insider equity reporting and if there is no change in shareholding by appointed directors, supervisors, and…
Read more
Australia – ASIC Takeovers, Substantial Shareholding
On 27 September 2023, AST GVT registered instruments set out below re the consult above, and an explanatory statement for each; all instruments commence on 28 September 2023. Registered instrument ASIC corporations (changing the responsible entity) instrument 2023/681; ASIC corporations (takeover bids) instrument 2023/683; as well as the ASIC corporations (compulsory acquisitions and buyouts) instrument…
Read more
Taiwan – FSC Shareholding: Transfer of Trust Shares
On 23 September 2023, TAI Justice issued rules on declaration by insiders. TAI FSC, TAI Justice stipulated article 22-2, 25 and 26 of Securities and exchange act. Declaration Requirements Stipulate declaration requirements for insider of a publicly issued company who holds over 10% of company's shares and transfers or acquires the shares under a trust.…
Read more
Taiwan – FSC Cross Shareholding Rules
On 13 September 2023, TAI FSC regulated cross shareholding by financial firms. TAI FSC, TAI Justice stipulated rules on article 28 of Securities and exchange act. TAI FSC also published letter to abolish relevant previous order as well as letter. Order Cross-shareholdings are strictly prohibited according to Financial holding company act. If an originally listed/OTC…
Read more