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 […]
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 […]
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 […]
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 […]
On 16 November 2020, EC published judgment on rules limiting takeover shares. Judgment following request for a preliminary ruling from the Inalta Curte de Casatie si Justitie, SC Romenergo SA, Aris Capital SA v Autoritatea de Supraveghere Financiara. Reference for a preliminary ruling regarding the free movement of capital where national regulations limited the shareholding […]
On 4 July 2020, CHI CBIRC published list of shareholders that violated laws. CBIRC has disclosed a list of 38 shareholders who have committed major violations. Illegal behaviors on the list include related-party transactions for improper benefits, providing false materials, sourcing capital that does not meet regulatory requirements. As well as shareholding that exceeds the […]