On 16 January 2023, IND RBI issued a master direction on substantial shareholding in banks. IND RBI issued the Master direction RBI (acquisition and shareholding or voting rights in banking companies) directions, 2023 and accompanying guidelines. The master direction may be read along with the Guidelines on acquisition and shareholding or voting rights in banking…
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France – ACPR Financial Holding Companies
On 12 January 2023, FR ACPR clarified position on holding company oversight. FR ACPR issued position 2022-P-02 re financial holding companies, mixed financial holding companies, parent companies and investment holding companies' obligations. Specifications re approval obligations, exemption from approval, as well as prudential obligations according to the place of the holding in the chain of…
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Busy Fourth Quarter for Foreign Direct Investments
It was a busy fourth quarter for regulations concerning foreign direct investment. It seems that not all were watching the World Cup. Read the full article
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U.K. – Gvt – National Security Acquisition / Takeover
On 9 January 2023, UK GVT updated guidance on UK GVT notification rules. UK GVT updated guidance for investors and businesses on the legal requirement to tell it about sensitive acquisitions / takeovers under national security and investment act (NSIA 2021). Follows UKP November 2020 issued bill on national security and investments. Updated Guidance Content…
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S Korea – FSC Shareholder Takeover Rights
On 21 December 2022, SK FSC protected investor rights in M&A share transfers. SK FSC held seminar on measures to protect general investors in case of change in management rights by stock transfer; introduced mandatory tender offer system. This system obligates a company to acquire a certain percentage of stocks through a tender offer when…
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Brazil – CB Shareholdings Held Abroad
On 25 November 2o22, BRZ CB issued provisions for equity and branches abroad. BRZ CB published Resolution 5.043 governing supervised institutions' shareholdings. Equity Held Abroad Covers filing requests with BRZ CB for equity interest or for branch installation abroad. Also, equity participation in companies headquartered in countries with tax benefits. Allows direct/indirect control via partner…
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