On 16 August 2023, the Polish FSA announced that electronic disclosure forms are now available for the purposes of substantial shareholding disclosures to the FSA under the Act on Public Offerings. There are 6 forms available Use of the electronic disclosure forms will become mandatory FSA suggests that investors familiarise themselves with the functionality of…
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Taiwan – FSC Issues Consultation to Lower Substantial Shareholding Threshold
On 9 August 2023, TAI FSC published consultation paper on the above amendments. The consultation is open for 60 days, until 11 October 2023. Background: 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…
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Germany – BaFin Substantial Shareholding Violation
On 10 August 2023, GE BaFin issued €600,000 fine to The Healing Company. GE BaFin imposed a fine of €600,000 on The Healing Company Inc on 15 March, 2023. The Healing Company Inc violated obligations of section 33(1) of German securities trading act (WpHG) by not submitting substantial shareholding notifications in a timely manner. Violations…
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10 August 2023 – Germany BaFin Fines €600k for Substantial Shareholding Reporting Failures.
Germany BaFin Fines €600K for Substantial Shareholding Disclosure
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Taiwan – FSC to Lower Substantial Shareholding Disclosure Threshold
On 1 August 2023, TAI FSC proposed revisions to lower substantial shareholding disclosure threshold. TAI FSC proposed to amend Regulations governing the declaration on acquisition of shares in accordance with paragraph 1 of article 43-1 of the Securities and exchange act, to comply with the revised Securities and exchange act articles 43-1 and 183. Follows…
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Poland – FSA Substantial Shareholding Disclosure Ruling
On 17 July 2023, POL FSA announced Provincial Administrative Court dismissed Daniel Mzyk's complaint against its decision of March 2018. Case was returned to Provincial Administrative Court after the Supreme Administrative Court in Warsaw accepted cassation appeal filed by Daniel Mzyk on 28 July 2022. Fine of PLN 1,000,000 imposed for failing to notify POL…
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