On 24 August 2023, ESP CB fined Bnext Electronic Issuer EDE SL €120,000 for substantial shareholding disclosure failures. Serious infringement for the failure to report, in a timely manner, the acquisition of and reduction in indirect shareholdings Imposed fines on the company and two of its directors: Mr. Juan Antonio Rullán de la Mata (€6,000), […]
On 27 August 2023, CHI CSRC further regulated shareholding reductions. CHI CSRC further regulated shareholding reduction by controlling shareholder. CHI CFA also reported the regulatory action by CHI CSRC on shareholding reduction. Regulations Controlling shareholder cannot reduce shareholding in the secondary market if the stock market price of the firm is lower than it’s IPO […]
On 24 August 2023, FIN-FSA updated its short selling reporting page to introduce its electronic services platform which will be used for reporting short selling. Effective date: From 27 September 2023, short selling reporting will need to be made through the electronic service platform. Background: Foreign companies must register with Digital and Population Data Services […]
On 25 August 2023, SSE, SZSE clarified shareholding reduction re divorce. SSE, SZSE answered questions re implementation rules on shareholders, directors, supervisors, and senior management of listed companies for shareholding reduction. Follows CHI CSRC July 2023 answered questions re division of shares. Also follows SSE, SZSE issued the implementation rules on 27 May 2017. Clarifications […]
On 23 August 2023, ESP CB fined Bnext Electronic Issuer EDE for shareholding reporting failures. ESP CB fined Bnext Electronic Issuer EDE SL €120,000 over serious infringement, directors Guillermo Vicandi Nebreda €12,000, Juan Antonio Rullán de la Mata €6000. The decisions were issued on 28 July 2023 but made public on 23 August 2023. Serious […]
On 28 July 2023, CHI CSRC answered questions re division of shares. CHI CSRC answered questions from reporters on matters related to the divorce of major shareholders of listed companies and the resulting division of company shares. Background Since the beginning of 2023, there have been a number of incidents in the market where major […]