Tag Archives: voting rights

Germany – BaFin Updated Shareholding FAQs

On 22 December 2023, BaFin issued updated major shareholding FAQs. FAQs regarding major shareholding, voting rights sections 6 (sec. 33 et seq.) and 7 (sec. 48 et seq.) of the Securities Trading Act (Wertpapierhandelsgesetz [WpHG]) were updated Question 6C: how multiple voting rights should be disclosed in a voting rights notification ; and Question 25:…
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S Korea – FSS Asset Management Voting Guide

On 2 August 2023, SK FSS issued measures to promote the establishment of a public disclosure database on the exercise of voting rights, as interim discussion results. Measures include: standardizing disclosure forms of SK FIA and KRX by improving relevant standards, enabling the search on information of voting rights exercised by management companies under various…
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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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France – ACPR Financial Holding Companies

On 12 January 2023, FR ACPR clarified position on holding company oversight. FR ACPR issued position 2022-P-02 re financial holding companies, mixed financial holding companies, parent companies and investment holding companies' obligations. Specifications re approval obligations, exemption from approval, as well as prudential obligations according to the place of the holding in the chain of…
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Germany – BaFin Voting Rights Notification

On 22 December 2022, GE BaFin issued on significant voting rights notification. GE BaFin issued details on mandatory notification re significant voting rights' changes. Mandatory Notification Natural, legal persons must notify the amount of voting rights in listed companies. As soon as they reach, exceed or fall below one of the threshold values through the…
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S Korea- FTC K Cube Holdings Voting Restrictions

On 15 December 2022, SK FTC penalized K Cube for violating voting rules. SK FTC issued a corrective order to K Cube Holdings, an affiliate of Kakao Co. Ltd, for violating restrictions on voting rights of financial companies and insurance companies. Violations Rules state that a company that belongs to a business group subject to…
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