On 30 January 2024, POL FSA upheld decision of POL FSA to impose the fines of 20,000 PLN, 140,000 PLN, 220,000 PLN, 40,000 PLN, 110,000 PLN, 200,000 PLN, 140k PLN. Background On July 2023, POL FSA fined Krzysztof Gawla for various violations related to not notifying certain companies and the Commission about changes in substantial…
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Germany – BaFin Securities Control Ordinance: RE Significant Shareholding
On 15 January 2024, GE BaFin issued rules on notification of significant shareholding. BE BaFin announced Securities institution owner control ordinance, WpI-InhControlV. Follows GE GVT December 2023 issued law on advertisement and documents. Control Ordinance The full title of the legislation is the Ordinance on advertisements in accordance with Section 24 of the Securities Institutions…
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S Korea – FSS – Corporate Disclosure Briefing
On 5 December 2023, SK FSS issued plan to hold corporate disclosure briefing. SK FSS issued a plan to hold briefing sessions on corporate disclosure. Aims to ensure that important corporate information is faithfully provided to the market by improving understanding of employees responsible for corporate disclosure. Briefing Sessions SK FSS has held briefing sessions…
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Kuwait – CMA Amended Capital Market Bylaws
On 22 October 2023, KUW CMA amended capital market executive bylaws. KUW CMA issued Res 144 of 2023 amending executive bylaws of capital markets law. Highlights of Amendments Amended module 2 regarding schedule of the KUW CMA services fees as per annex 1. Module 11 re dealing with securities was also amended as per annex…
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U.S. – SEC Adopts Changes to Major Shareholding Reporting
On 10 October 2023, the SEC issued confirmation that it is adopting amendments to the rules governing major shareholding reporting that had been proposed. The key changes from these amendments are: (a) reduction in the deadlines for disclosures of 13D and 13G Reports; (b) disclosure of cash settled securities; (c) clarification on the criteria for…
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Taiwan – FSC Reporting Change in Shareholding
On 6 October 2023, TAI FSC issued order on reporting change in shareholdings. TAI FSC, TAI Justice issued order to stipulate article 25 of Securities and exchange act. When a public company organized by a single legal person handles insider equity reporting and if there is no change in shareholding by appointed directors, supervisors, and…
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