On 18 November 2024, UKP issued update on the disposal of £1bn worth of government-owned NatWest Group shares, representing approximately 3.2% of the company. UK GVT's remaining shareholding represents approximately 11.4% of voting rights in NatWest which demonstrates continued progress being made towards the UK GVT's intention to return its shareholding in NatWest to private…
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Brazil – CVM Relaxes Shareholding Restrictions
On 11 November 2024 BRZ CVM issued rules to relax shareholding restrictions. BRZ CVM issued Resolution 220 to amend Resolution 135 by increasing limit that stock market participants can hold in the voting shares of entity managing stock exchange. Follows BRZ CVM June 2022 Res 135 re securities market operations. Overview The shareholding limit increase…
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Netherlands – AFM Fines for Shareholding Disclosure Violation
On 6 November 2024, the Netherlands Authority for the Financial Markets (AFM) imposed a fine on Nyenburgh Holding B.V. (Nyenburgh) for not reporting shareholding transactions to the AFM in a timely or incorrect manner. Three different shareholding transactions in the period from 31 May 2018 to 5 March 2021 Imposed fine of of €240,000, which…
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China – CSRC Foreign Investment Measures
On 1 November 2024 CHI CSRC issued foreign strategic investment measures. CHI CSRC, CHI SAFE, CHI CMRC, CHI Tax, CHI SAMR jointly issued the Measures for the administration of strategic investment by foreign investors in listed companies. CHI CSRC also issued answers to reporters' questions regarding the measures. Aims to further broaden the channels for…
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Norway – FSA Shareholding on Inside Information
On 30 October 2024, NORFSA issued Sparebank 1 Markets supervisory report. NORFSA published report for Sparebank 1 Markets AS detailing inside information risk. Investigation Overview NORFSA investigated Sparebank 1 Markets AS placement of a shareholding in Crayon Group Holding ASA on 25 January 2024, concluding it communicated inside information to some investors without complying with…
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Brazil – CVM Public Acquisition / Takeover Offers
On 29 October 2024, BRZ CVM published Resolution 216 and Resolution 215 re the issuance of public share acquisition / takeover offers and the introduction of simpler procedures. Resolution 216 covers specific changes to harmonize rules with Resolution 215. Resolution 215 set new regulatory regime for the OPA, replacing Resolution 85. These Resolutions are a…
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