On 14 May2021, SWE FI ordered Unwrap Finance Nordic to pay SEK 25mn. Unwrap Finance Nordic received fine for failure to submit short selling notifications. Compliance Failure Failure to notify SWE FI that the company's net short position in shares in ArcAroma AB had reached or fallen below the relevant thresholds for notification on 57…
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Sweden – FI Fines for Late Short Selling Disclosure
On 23 April 2021, the Swedish regulator, Finansinspektionen fined Renaissance Technologies LLC SEK 1,000,000. Renaissance was late in reporting the company's net short position in shares in Oriflame Holding AG. Short positions had, on 47 occasions reached or fallen below the relevant notification thresholds.
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Hong Kong – SFC Fines Optimas Capital for Short Selling
On 15 April 2021, HK SFC fined Optimas Capital due to short selling reporting failures. HK SFC has reprimanded Optimas Capital and fined it HKD1.05mn over failures. It did not ensure short position reports (SPRs) for a collective investment scheme (CIS) under its management were accurate and compliant with the requirements. Investigation An SFC investigation…
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Denmark – FSA Halts Net Short .1% Threshold
On 17 March 2021, DEN FSA reported net short position holders decision end. DEN FSA noted ESMA's temporary decision on the threshold for notifying short positions expires 19 March 2021, as GDP forecasts show some optimism for recovery. Follows ESMA March 2021 ended decision on holders of net short positions. Net Short Position Threshold Decision…
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EFTASA Puts End to .1% Net Short Reporting Requirement
On 15 March 2021, EFTASA said it will not renew decision requiring disclosure of net short positions of 0.1% and over, thus the decision will will expire on 19 March 2021. Announcement, in coordination with ESMA, means reporting threshold for net short positions will revert to 0.2% of the issued share capital of companies whose…
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South Korea – FSC Fines for Naked Short Selling Violations
On 24 February 2021, SK FSC fined 10 overseas financial firms for violations. SK FSC decided to impose a total penalty of KRW685mn on 10 overseas financial companies, following results of an investigation into violation of short sale restrictions. Follows December 2020 SK FSC updated on bill relating to illegal short-selling. Violations There was a…
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