On 14 October 2024, IND SEBI wrote re market infrastructure institutions. IND SEBI issued circular regarding monitoring shareholding of market infrastructure institutions (MIIs), includes stock exchanges, depositories, and clearing corporations. Follows IND SEBI October 2023 issued master circular for stock exchanges. Also follows IND SEBI October 2023 issued new master circular for depositories. Follows IND…
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Hong Kong – SFC Fines for Failure to Notify of Shareholding Structure
On 30 September 2024, HK SFC fined Profitech Securities Limited HKD 3.99mn. HK SFC reprimanded and also fined Profitech HKD 3.99mn for regulatory breaches. Key Breaches Failed to maintain liquid capital of HKD 3mn between February - June 2021, since July 2022. Improperly repledged client securities collateral without valid client standing authority. Failed to ensure…
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Austria – FMA Fines for Late Notification on Shareholding Structure
On 27 September 2024, AUT FMA imposed penalties on firms for late notifications. AUT FMA imposed penalties against EVAX Holding GmbH (Evax) in liquidation, EUROVEA Services, s.r.o. (Eurovea) and another reportable person for violations. Specifically, those involved violated the Austrian Stock Exchange Act 2018. Reporting Requirements Companies and person made criminal decisions by way of…
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India – IFSCA Revises Rules on Securities Listing
On 28 August 2024, IND IFSCA revised rules to facilitate securities listing. IND IFSCA published amendments to the Securities contracts (regulation) rules, 1957. Renamed Securities contracts (regulation) amendment rules, 2024, the rules aim to facilitate listing on a stock exchange in International Financial Service Centre. Amendments Introduced definitions for International Financial Services Centre and International…
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Vietnam – CB Proposed Regulations RE: Shareholding Limits
On 16 August 2024, VIE CB proposed regulations re shareholding limits. VIE CB proposed regulations for commercial banks whose shareholders and related parties shares exceed the limits prescribed by the Law on credit institutions 2024. Follows VIE PRL February 2024 approved the draft law on credit institutions. Proposal Due to the Law on credit institutions…
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Poland – FSA Fines for Substantial Shareholding Failures
On 13 August 2024, POL FSA announced that an application had been submitted for reconsideration of the substantial shareholding case against Perla – Browary Lubelskie SA the decision made on 15 July 2024. Penalties were imposed on Perla – Browary Lubelskie SA, based in Lublin. Fine of PLN 4mn has been imposed for violations of…
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