On 30 January 2024, TAI FSC issued order on finalizing substantial shareholding amendment to regulations. TAI EXC also published the amended regulations into database on the same day. The substantial shareholding amendments are effective from 10 May 2024. Amendments Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%. Substantial shareholders will…
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Poland – FSA Krzysztof Gawla Substantial Shareholding Penalties
On 30 January 2024, POL FSA upheld decision of POL FSA to impose the fines of 20,000 PLN, 140,000 PLN, 220,000 PLN, 40,000 PLN, 110,000 PLN, 200,000 PLN, 140k PLN. Background On July 2023, POL FSA fined Krzysztof Gawla for various violations related to not notifying certain companies and the Commission about changes in substantial…
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Taiwan – FSC Lowering Substantial Shareholding Threshold
On 16 January 2024, TAI FSC said that proposed substantial shareholding amendments will be published soon. Amendments Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%. Shareholders will be able to submit their reports through file uploads on the market observation post system (MOPS), to effectively complete the substantial shareholding reporting…
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AFM: Substantial Shareholding and Gross Short Positions
On 11 January 2024, the Netherlands market regulator, Autoriteit Financiële Markten (AFM) issued another edition of their Market Watch publication, Read the full article.
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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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Australia – ASIC Takeovers, Substantial Shareholding
On 27 September 2023, AST GVT registered instruments set out below re the consult above, and an explanatory statement for each; all instruments commence on 28 September 2023. Registered instrument ASIC corporations (changing the responsible entity) instrument 2023/681; ASIC corporations (takeover bids) instrument 2023/683; as well as the ASIC corporations (compulsory acquisitions and buyouts) instrument…
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