On 5 December 2024, ARG CNV has made the obligation to report more flexible. ARG CNV issued General Resolution 1035/2024 re flexibility of substantial shareholdings report. Highlights Criteria and deadlines will be modified to ensure data transparency and improvement. From 5% threshold, substantial shareholding must be reported when reach multiples of value. 10 business days…
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Australia – ASIC Fines for Substantial Shareholding Reporting Failure
On 20 November 2024, AST ASIC said Mr Hatch was convicted and sentenced for failing to disclose his substantial shareholding in Copper Strike Limited and providing false information. He was sentenced to six months imprisonment, released immediately upon paying a AUD 2,000 fine; conditional release requires good behavior for 12 months. Pleaded guilty to authorizing…
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U.K. – Trading Plan for NatWest Shareholding
On 18 November 2024, UKP issued update on the disposal of £1bn worth of government-owned NatWest Group shares, representing approximately 3.2% of the company. UK GVT's remaining shareholding represents approximately 11.4% of voting rights in NatWest which demonstrates continued progress being made towards the UK GVT's intention to return its shareholding in NatWest to private…
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Brazil – CVM Relaxes Shareholding Restrictions
On 11 November 2024 BRZ CVM issued rules to relax shareholding restrictions. BRZ CVM issued Resolution 220 to amend Resolution 135 by increasing limit that stock market participants can hold in the voting shares of entity managing stock exchange. Follows BRZ CVM June 2022 Res 135 re securities market operations. Overview The shareholding limit increase…
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Netherlands – AFM Fines for Shareholding Disclosure Violation
On 6 November 2024, the Netherlands Authority for the Financial Markets (AFM) imposed a fine on Nyenburgh Holding B.V. (Nyenburgh) for not reporting shareholding transactions to the AFM in a timely or incorrect manner. Three different shareholding transactions in the period from 31 May 2018 to 5 March 2021 Imposed fine of of €240,000, which…
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China – CSRC Foreign Investment Measures
On 1 November 2024 CHI CSRC issued foreign strategic investment measures. CHI CSRC, CHI SAFE, CHI CMRC, CHI Tax, CHI SAMR jointly issued the Measures for the administration of strategic investment by foreign investors in listed companies. CHI CSRC also issued answers to reporters' questions regarding the measures. Aims to further broaden the channels for…
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