Sweden FI Fines Lazard for Late Substantial Shareholding Disclosure
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Sweden – Fine for Late Substantial Shareholding Disclosure
On 28 March 2022, SWE FI fined Waldakt Aktiebolag for late notification. SWE FI issued SEK 75,000 fine for failing to properly report substantial shareholding transactions. Overview Concerns fine according to act (2016:1306) with supplementary provisions of MAR. Case relates to purchase by Waldakt Aktiebolag (WA) of shares in Resurs Holding AB. Individual within WA…
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Spain – Proposed Changes to Substantial Shareholding Form
On 15 March 2022, the CNMV opened a public consultation to amend the substantial shareholding disclosure form (Model I). Background: Form would now include information regarding holdings of loyalty shares that grant double voting rights. The proposed new substantial shareholding disclosure form is available in English and Spanish on page 6 of the draft circular,…
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Could Norway’s Tight Shareholding Disclosure Window Cost It Investment
It is widely known that Norway has one of the tightest substantial shareholding disclosure windows among countries. While many countries allow for reporting of substantial shareholding full article
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Austria – FMA Imposes Fine for Late Substantial Shareholding
On 4 November 2021, the FMA fined Compass Gruppe GmbH for belated notification of the exceeding of the 4% shareholding limit of shares in an issuer. The company failed to notify the FMA, the stock exchange company and the issuer (CLEEN Energy AG) of exceeding the substantial shareholding participation limit in due time.
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Australia – ASIC Securities Lending Rules
On 11 November 2021, AST ASIC released a report highlighting the key issues that arose out of the submissions received on consultation paper 319 securities lending by agents and substantial shareholding disclosure (CP 319) and details ASIC's responses. It also covers the targeted consultation on the remake of class order [CO 11/272] substantial shareholding disclosure:…
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