On 6 May 2022, SEC Chair Gensler speech market transparency, resiliency. SEC Chair Gensler gave a speech at Annual Conference on Financial Market Regulation, titled A Century with a Gold Standard which covered market efficiency, and resiliency. Highlights Discuss how SEC can update rules (shareholding, short selling) related to disclosure and transparency. Cited SEC proposed…
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Sweden – Fine for Late Substantial Shareholding Disclosure
On 28 March 2022, SWE FI fined Waldakt Aktiebolag for late notification. SWE FI issued SEK 75,000 fine for failing to properly report substantial shareholding transactions. Overview Concerns fine according to act (2016:1306) with supplementary provisions of MAR. Case relates to purchase by Waldakt Aktiebolag (WA) of shares in Resurs Holding AB. Individual within WA…
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Italy – CB Qualified Shareholding Form Issued
On 29 March 2022, ITA CB issued requirements for potential buyers-self-certification. It is a form for declaration needed under arts 46-47 del DPR 445 of 28 December 2000. Background On 28 October 2021, ITA CB announced rules on qualified shareholding in banks, IMEL. Update information and documents to be sent to ITA CB by anyone…
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S Korea – FSC Investment, Capital Markets
On 7 December 2021, SK FSC said SK GVT approved revisions to enforcement decree of the financial investment services and capital markets act (FSCMA), its subordinate rules. Follows SK FSC October 2020 1st task force meeting on unfair activities. Also follows SK FSS January 2021 improvement plan for corporate disclosure. Revisions prescribe specific details…
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China – CBIRC Shareholder Violations
On 10 December 2021, CHI CBIRC published a list of banks and insurance institutions' shareholders who have committed major violations, as part of shareholder supervision. Behaviors include conducting related party transactions in violation of regulations, concealing beneficial relationships, and the illegal holding and transfer of equity. As well as source of funds for shareholding not…
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2021 Regulatory Reporting System Annual User Group Meeting
Users from around the globe “zoomed” in for Solutions Atlantic’s Eighth Annual Regulatory Reporting System User Group meeting. While these meetings have been traditionally in person, this year’s meeting was moved online due to the Covid-19 Omicron variant concerns; although that did not hinder a record number of participants tuning in to get a glimpse…
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