On 28 May 2021, CHI CSRC responded to media reports that there are excessively strict and detailed verification requirements for shareholder information disclosure. Noted that during implementation, some intermediaries have expanded their scope of verification, resulting in shareholders with small shareholding not meeting criteria. CSRC emphasizes that shareholders of listing companies should be thoroughly inspected…
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Sweden – FSA Fines for Late Shareholding Reporting
On 11 February 2021, the FSA issued a fine for late shareholding reporting. Apera Holding shall pay a penalty of SEK 217,000 for late reporting of shares in Tangiamo Touch Technology AB.
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U.K. – FCA Major Shareholding Reporting Portal
On 8 February 2021, the FCA advised that the new major shareholdings notification portal will be live on Monday 22 March 2021. THe FCA also reminded shareholders with reporting obligations under DTR 5.1.2, that as of Monday, 22 March 2021 all TR-1 notifications in relation to shares in a UK issuer admitted to trading on…
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Italy – CB Qualified Shareholding Process
On 20 January 2021, ITA CB issued draft rules on qualified shareholdings. ITA CB draft new provisions on identification information, documents to be submitted for authorization request re acquisition of qualifying holdings in banks, intermediaries. Falling under art 106 of TUB; electronic money institutions (IMEL); payment entities (IP); investment managers (SGR) and certain investment UCITS…
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Bangladesh – SEC Shareholding Requirement
On 10 December 2020, BNG SEC issued directive on compliance of shareholding. BNG SEC issued directive regarding compliance of 30% shareholding requirement. Requirement If the sponsors/directors of any listed company fail to jointly hold minimum 30% shares of paid-up capital of a company all the time, SEC will impose certain actions. The company's board shall…
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U.S. – SEC Electronic EDGAR Authentication
On 17 November 2020, SEC adopted rules on electronic document submission. SEC adopted rule amendments to Regulation S-T, Rule 302, under 17 CFR 232.302. To permit electronic signatures when executing many SEC authentication documents. Amended electronic data, gathering, analysis, retrieval system (EDGAR) filer manual. Part of series of initiatives designed to modernize and strengthen agency's…
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