On 13 December 2023, UAE DFM issued listing and membership, trading rules. UAE DFM issued listing rules module, and membership, trading, derivatives module. Documents dated 2023, received from UAE DFM 13 December 13, summarized on 19 December 2023. Follows UAE DFM November 2022 issued market rules modules one to four. Background Module 3 Membership, Trading…
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U.S. – SEC’s Short Selling Rule Being Challenged
On 12 December 2023, it was reported that three hedge fund associations have sued the SEC in an attempt to vacate two new rules aimed at boosting transparency of short selling. Claims from Associations: MFA, AIMA, and NAPF claim the SEC took conflicting stances with the rules. Allowing transaction reports to be aggregated to protect…
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S Korea – FSC Violation of Shareholding Reporting Duty
On 7 December 2023, SK FSC proposed revisions re capital markets investigation. SK FSC proposed revisions to the Regulations on the capital markets investigation. Revisions Where a reporting duty such as on substantial shareholding is intentionally violated, resulting in material consequences, a penalty surcharge will be imposed in principle, as in the case of violating…
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Malaysia – BML Updated Short Selling List of Securities
On 1 December 2023, MLY BML updated the short selling approved securities list to include 33 new approved securities and removed five existing approved securities from the list. The updated short selling list of approved securities will be effective from 15 December 2023.
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U.S. – MFA Recommends Reforms to EU Short Selling Regulations
On 4 December 2023, in an open letter to the European Commission (EC), the Managed Fund Association(MFA) recommended targeted reforms to the EU short selling regulation. Open letter is in response to EC's call of evidence on short selling regulation Short selling is an essential tool that improves market efficiency, helps uncover corporate fraud, and…
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U.K. – FCA Short Selling Regulations
On 28 November 2023, UK FCA issued an update on recent UK Treasury activity re short selling regulations 2023 and 2024, response on sovereign debt/credit default swaps. Following its Short Selling Regulation Review call for evidence, UK Treasury laid statutory instrument which increases notification threshold for reporting of net short positions to FCA from 0.1%…
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