On 2 August 2022, SIN MAS issued FAQs to disclose interest in listed security. SIN MAS issued revised FAQs on disclosure of interests in listed securities, under SFA. Securities And Futures Act SFA, Part VII (disclosure of interests), imposes obligations. Scope Applies to director or CEO of a listed corporation (except a foreign corporation with…
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India – SEBI Imposes Fine for Substantial Shareholding
On 21 June 2022, SEBI imposed a monetary penalty on Tamarind Capital Pte Ltd under the provisions of section 15H(ii) of the SEBI Act for its violations of the provisions of Regulation 3(1) of the Substantial Acquisition of Shares and Takeovers Regulations. Tamarind Capital acting in concert with Jasmine Capital Investment acquired voting rights by…
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UAE – AbuDExc Substantial Shareholding Limit Changes
On 17 June 2022, AbuDExc issued rules on Abu Dhabi National Hotel shares. AbuDExc detailed changes on the substantial shareholding limit for non-UAE nationals for Abu Dhabi National Hotels PJSC shares, that comes into full effect from 20 June 2022. From that date there is no maximum limit for non-UAE nationals, whether natural or legal…
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23 March 2022: Sweden FI Fines Lazard for Late Substantial Shareholding Disclosure
Sweden FI Fines Lazard for Late Substantial Shareholding Disclosure
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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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