On 8 September 2021, SWE FI fined Carve Capital SEK 1,900,000 late flagging. Carve Capital AB fined SEK 1,900,000 penalty for late substantial shareholding disclosure for shares in Attendo AB (publ). Under Fnancial Instruments Trading Act (1991:980), breached timely notification. Late Flagging Carve Capital AB notified SWE FI on 22 January 2019, that on 10…
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U.K. – FCA Update on Substantial Shareholding Disclosures
On 6 September 2021, UK FCA issued an update on substantial shareholding disclosures. Minor changes have been introduced to Section 9.2 of the TR-1 Form notification. Reporting persons are now able to upload a CVS file with details of their ultimate controlling persons and controlling undertakings through which voting rights are held. Manually populated option…
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China – CSRC Update on Shareholder Information Disclosure
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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