On 10 July 2024, the China Securities Regulatory Commission (CSRC) approved the suspension of refinancing of securities lending (used as part of short selling). Background: Securities Lending is when brokers borrow shares on behalf of their clients to initiate short selling. Existing refinancing contracts can be rolled over, but no later than 30 September. Effective…
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E.U. – ESMA Guidelines on Short Selling Exemption
On 8 July 2024, EU ESMA published updated compliance table re guidelines on short-selling. Denmark, Germany, Spain, France, Ireland, Italy, and Sweden each comply with the majority of the short selling guidelines, and each jurisdiction sets out the rationale for this. The remainder of the EU member states and the EEA and EFTA states all…
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S Korea – FSC, FSS, Fines for Several IBs for Illegal Short Selling
On 3 July 2024, SK FSC, SK FSS fined global IBs total of KRW 27.173mn. SK FSC, SK FSS said Securities and Futures Commission had decided to impose fines totaling KRW 27.173 against two former Credit Suisse affiliated investment banks. Follows SK FSS May 2024 discovered illegal short selling in 9 global IBs. Overview of…
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3 July 2024 – S Korea FSC Failure to Report Short Selling
S Korea Fines for Failure to Disclose Short Selling
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3 July 2024 – S Korea FSC Fines 2 for Breaches of Short Selling Regulations
S Korea Fines for Late Substantial Shareholding Report
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Reminder: Thailand Amended Short Selling Regulations Effective 1 July
On 24 June 2024, the Stock Exchange of Thailand (SET) announced short selling and program trading regulations commencing on 01 July 2024. These amended regulations include: Qualifications of securities eligible for short selling: the minimum 3-month average market capitalization requirement for the non-SET100 securities will be raised to THB 7.50 billion. Additionally, 12-month average monthly…
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