On 7 November 2022, AST GVT proposed a public beneficial ownership register. AST GVT issued consultation paper multinational tax integrity: public beneficial ownership register; said it is seeking comments on the design features for the register. Said proposed register is part of AST GVT's multinational tax integrity package. Follows AST PRL March 2022 issued report…
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India – INS Substantial Shareholding Breach
On 14 October 2022, IND INS issued findings on Axis Bank and Max Life shares. IND INS issued two orders in the matter of Axis Bank Limited and Max Life Insurance Co. Ltd, along with other companies in Axis group, for making undue profits or gains. Background Axis Bank had been granted a certificate of…
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9 August 2022 – Poland FSA Fines $1M for Failure to Report Substantial Shareholdings
Poland FSA Fines $1M for Failure to Report Substantial Shareholdings
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2 August 2022 – Germany BaFin Fines $5M for Substantial Shareholding Failure
Germany BaFin Fines $5M for Substantial Shareholding Failure
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14 July 2022 – India SEBI Fines for Substantial Shareholding Disclosure
India SEBI Fines for Substantial Shareholding Disclosure
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Norway – Substantial Shareholding Changes Effective 1 September
On 1 September 2022, Norway will implement ESMA's TDA regulation for substantial shareholding. Most notable: unissued shares are no longer included cash settled instruments are included Norway will maintain its substantial shareholding thresholds and share capital test. The new rules clarify that equity certificates should be treated as shares of any other issuer and therefore…
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