On 12 April 2022, SWI FINMA announced market manipulation by company. SWI FINMA concluded proceedings against Blackstone Resources AG and one of its bodies for violating market conduct rules as it engaged in market manipulation. SWI FINMA identified market manipulation and disclosure requirements breaches. Overview As part of enforcement proceedings found Blackstone Resources, one of…
Read more
Jersey – EXC QAHC and REIT Changes
On 26 November 2021, JER EXC updated on trading including legal changes. JER EXC board of directors issued update on recent trading and outlook for 2021. Board is reviewing options for the return of capital to shareholders during 2022. Draft finance bill 2022 has changes which may impact new, possibly existing, listings. Follows UK Treasury…
Read more
China – NEEQ Gangbao Disclosure Failure
On 16 November 2021, CHI NEEQ investigated Gangbao disclosure violation. CHI NEEQ investigated a disclosure violation by Gangbao, an innovation tier company. Violation Nanjing Iron and Steel Company, the controlling shareholder of Gangbao, had disclosed its plans to carve out Gangbao's shares for listing on Beijing Stock exchange. Gangbao failed to disclose this on the…
Read more
Russia – CB Share Acquisition Consent
On 25 February 2021, RUS CB proposed rules on shareholder disposal of shares. RUS CB issued draft directive amending law Russia no 185-I on obtaining RUS CB consent for acquisition of shares of a financial organization and/or establishing control over shareholders of a financial institution and sending notifications to RUS CB. Specifically in cases where,…
Read more