On 12 July 2022, TAI FSC issued interpretive rules of director shareholding. TAI FSC issued supplementary interpretive rules for the disputes over the application of paragraph 1 of article 157 of Securities and exchange act. Supplementary Rules Clarified the calculation of 10% of shareholding by directors, supervisors, and managers when they obtain the shares before…
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France – AMF Major Shareholding Reporting Failure
On 21 June 2022, FR AMF informed injunction issued to Dynamic Treasure. FR AMF ensured compliance with major shareholding reporting obligations via an injunction. Followed 2 October 2020, FR GVT ordinance on commercial code, after PACTE Law. Holdings in SMCP FR AMF obtained a court injunction against the company Dynamic Treasure Group Limited, established in…
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21 June 2022 – France AMF Fines for Major Shareholding Reporting Failure
France AMF Fines for Late Major Shareholding Disclosure
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S Korea – Change in Filing Deadline for Shareholding in Banks
Effective 9 May 2022, the FSC loosened the reporting deadline from 5 days to 10 days for the shareholding 4% threshold in commercial banks. See the FSC press release (in Korean only) for details of the change.
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U.K. – CMA LSE Group / Quantile Merger
On 17 May 2022, UK CMA published terms of reference after referring the anticipated acquisition by London Stock Exchange Group PLC of Quantile Group Ltd to phase 2. LSEG is an international financial markets infrastructure and data business which holds a majority shareholding in the LCH clearing house group - a clearing house helps reduce…
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China – CSRC Shareholding Reduction
On 13 May 2022, CHI CSRC imposed a penalty for illegal reduction of shares. CHI CSRC issued a notice of administrative penalty to Shanghai Yingyi, for illegally reducing its shareholding in WuXi AppTec, in violation of the Securities law. Reduction in Shareholding Article 36 of the Securities law specifically regulates the reduction of shareholdings, re…
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