On 11 Jun 2020, ITA CB issued 2nd update of circular 303 on reporting statistics. Followed May 2020, ECB guidance notes to reporting agents on SHS Reg. Adjusted reporting rules to take into account the recent changes to the ECB guidance. Reporting changes are effective starting from accounting dates of 30 June 2020.
On 1 April 2020, CHI SAC updated on securities industry changes after limits lifted. Currently 15 joint venture securities firms with foreign shares or holdings; the first 100% foreign-invested securities firms are expected to emerge from among them. CSRC approved increase in Morgan Stanley’s shareholding in Morgan Stanley Huaxin Securities; Goldman Sachs’ shareholding in Goldman […]
On 27 March 2020, IND SEBI extended the due date of filing disclosures, in terms of regulations 30(1), 30(2) and 31(4) for the financial year ending 31 March to 1 June 2020. Background Information On 25 August 2020, IND SEBI amended substantial acquisition rules. Revises SEBI Sep. 2011 circular on reports, disclosures required on making […]
On 24 December 2019, MLY CB issued policy document on equity investments. Policy document sets out requirements of equity investments; approval and notification requirements relating to equity interests held by financial institutions in corporations. Requirements Financial institution must obtain MLY CB’s prior written approval for establishment or acquisition of subsidiary, any direct or indirect acquisition […]
On 6 November 2019, BRZ CVM extended comment period on lawsuits, until Dec. 12, 2019. The 10 October 2019, Consultation launched on the minimum percentages of shares needed to have lawsuits. Draft initiative seeks to adopt the reduction, provided for under art 291 law 6.404/76. Shareholding for Lawsuits Draft instruction establishes scale reducing, in function […]
On 7 June 2019, IND RBI fined Kotak Mahindra Bank for disclosures. This action is based on deficiencies in following regulatory compliance directive. Charges The bank was told to submit information about details of the shareholding held by its promoters and submit details of proposed course of action/plan/strategy. For complying with the permitted timeline for […]