On 1 June 2023, CSA reported a deferred launch of new SEDAR+ filing system. CSAs now intend to launch SEDAR+ on 25 July 2023, with contingency date in September. Noted process of assuring quality migration of large volumes of data from multiple legacy systems in taking longer than planned; added additional six weeks to project.…
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Netherlands – AFM Fines for Late Substantial Shareholding Disclosure
On 11 May 2023, the Netherlands Authority for the Financial Markets (AFM) imposed a fine on Lars Windhorst for failure to report substantial shareholding. Windhorst's substantial shareholding was more than 93% in Fyber N.V., a company listed on the German stock exchange. the AFM fine Windhorst €500,000 for this substantial shareholding reporting failure.
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16 May 2023 – Sweden FI Fines for Substantial Shareholding Reporting Failure
Sweden FI Fines for Substantial Shareholding Reporting Failure/a>
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Taiwan – FSC Shareholding Notification 5%
On 4 May 2023, TAI PRL reported Securities and exchange act passing 3rd reading. After the revision, no matter whether it is alone or in name of others/spouse/children with total substantial shareholding more than 5% shares of listed company, it must be disclosed. Further disclosure is required for every 1% increase in shares of the…
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Taiwan – FSC Lowers Threshold for Substantial Shareholding
On 21 April 2023, TAI FSC passed the amended securities and exchange act. TAI FSC said that Executive Yuan passed third reading of Securities and Exchange Act. Amendment Revise threshold for substantial shareholding disclosure and announcement to 5%. Raise the lower limit penalties for violations of relevant regulations by securities firms, securities service enterprises and…
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Germany – BaFin Issues Fine for Late Shareholding Disclosure
On 20 April 2023, GE BaFin fined Prime Partners for failure to disclose substantial shareholding. GE BaFin fined Prime Partners for violations of German securities trading act (WpHG). Violations Prime Partners failed to submit proper notice of substantial shareholding to BaFin. This breach of shareholding notice is in violation of section 33, sentence 1 of…
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