On 12 September 2024, BUL FSC advised of substantial shareholding form and notification submission change. BUL FSC outlined change to substantial shareholding form and submission method for notification of substantial shareholding (notification under article 145) by shareholders in public companies. Summary Applies to those passing thresholds of 5% or multiples of 5% of voting rights…
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S Korea – FSC Meeting on Asset Management
On 5 September 2024, SK FSC held a meeting with asset management companies. SK FSC held a meeting with SK FIA and 10 asset management companies, to discuss asset management by life cycle, advanced capital market, sound market development. Overview of Meeting SK FSC requested for development of stable long-term investment pension products. Called upon…
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Germany – BaFin Fines for Substantial Shareholding Reporting Failure
On 20 August 2024, GE BaFin issued €1,600,000 fine to NBSH Acquisition for substantial shareholding reporting failure. GE BaFin imposed fines totaling €1,600,000 on NBSH Acquisition LLC on 27 May 2024. The company violated obligations of section 33(1) of the German Securities trading act (WpHG) by not submitting substantial shareholding notifications within the prescribed period.…
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Poland – FSA Fines for Substantial Shareholding Failures
On 13 August 2024, POL FSA announced that an application had been submitted for reconsideration of the substantial shareholding case against Perla – Browary Lubelskie SA the decision made on 15 July 2024. Penalties were imposed on Perla – Browary Lubelskie SA, based in Lublin. Fine of PLN 4mn has been imposed for violations of…
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S Korea – FSS Funds Voting Rights Disclosure
On 6 August 2024, SK FSS issued voting rights disclosure inspection outcome. SK FSS issued the results of an inspection on the status of voting rights exercise and disclosure by asset management companies, as well as its future supervisory plan. Follows SK FSS April 2023 set up a task force to revise voting guidelines. Also…
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Algeria – COSOB Major Shareholding Guidelines
On 14 July 2024, ALG COSOB published guide re major shareholding. ALG COSOB published guidelines on prevention of major shareholding by criminals in companies whose securities are listed on an exchange or are the subject of an offer of securities to the public. Document dated 14 July 2024, received from ALG COSOB on 24 July…
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