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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Norway – FSA Shareholding on Inside Information
On 30 October 2024, NORFSA issued Sparebank 1 Markets supervisory report. NORFSA published report for Sparebank 1 Markets AS detailing inside information risk. Investigation Overview NORFSA investigated Sparebank 1 Markets AS placement of a shareholding in Crayon Group Holding ASA on 25 January 2024, concluding it communicated inside information to some investors without complying with…
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Brazil – CVM Public Acquisition / Takeover Offers
On 29 October 2024, BRZ CVM published Resolution 216 and Resolution 215 re the issuance of public share acquisition / takeover offers and the introduction of simpler procedures. Resolution 216 covers specific changes to harmonize rules with Resolution 215. Resolution 215 set new regulatory regime for the OPA, replacing Resolution 85. These Resolutions are a…
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Japan – Revisions to Shareholding Systems
On 15 October 2024, JPN JSDA revised Rules for cumulative stock investments. JPN JSDA announced revisions to the Rules for the handling of cumulative stock investments and mini stock investments and the Guidelines for shareholding systems. As per revised Cabinet office ordinance on the definitions under article 2 of financial instruments and exchange act, which…
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India – SEBI on Monitoring Substantial Shareholding
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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