On 3 December 2019, BRZ CVM issued ins 616/2019 on changes re takeover bids regime. Some changes not in version submitted to consultation are result of feedback received. I.e. publication requirements for takeover bids were relaxed, suppression of sell option of non-OPA shareholders due to increase in shareholding when it reaches 2/3 limit. Art 35…

On 15 November 2019, PHI SEC ordered CMIC takeover of R&L Investments. Ordered Capital Markets Integrity Corporation (CMIC) to take over the operations of R&L Investments, to protect affected customer accounts on 14 November 2019. Following the stock brokerage’s collapse allegedly due to unauthorized transfers of proprietary, client shares worth about P700mn into an account…

On 30 September 2019, Thai SEC updated on conditions for a tender offer. Regarding rules, conditions and procedures for securities acquisition for a takeover. Adds to the third paragraph of clause 11 of the notification of the capital market regarding rules, conditions and procedures for the acquisition of securities May, 2011. Clause 11 states that…

On 29 July, 2019, IND SEBI published the second amendment to the regulations. Added sub-regulation on increase in voting rights of any shareholder beyond threshold. Also added sub-regulation regarding "encumbrance" and on declarations of promoters. The rules shall come into force on the date of their publication in the official gazette  

On 17 June 2019, FINFSA announced Danko Koncar penalty now totals €110mn. There have accumulated 11 additional installments from July 2018 and June 2019. On 1 March 2019, Helsinki Administrative Court dismissed the complaint by Koncar. Judgment not final as Koncar has appealed to the Supreme Administrative Court. Background On 21 February 2018, FINFSA fined…