On 16 September 2025, BEL FSMA issued settlement with Roularta Media Group. BEL FSMA published an amicable settlement agreed with Roularta Mmedia Group NV. Regarding non-compliance with obligation to disclose the total number of voting rights by the end of each calendar month in which the total number of these has changed. Breaches Roularta is…
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Austria – FMA Late Notification of Substantial Shareholding
On 17 July 2025, AUT FMA issued penalties to Kapitalanlagegesellschaft Mbh. AUT FMA imposed penalty LLB Invest Kapitalanlagegesellschaft m.b.H (LLB Invest KAG) for violations of the Austrian Stock Exchange Act 2018 (BorseG 2018). Reporting Failures Late notification of exceeding substantial hareholding thresholds, as required under Section 130 of the Austrian Stock Exchange Act 2018. LLB…
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U.K. – Foreign Shareholding in Newspapers
On 16 July 2025, UK DCMS opened consultation on draft regulations. UK DCMS issued consultation on further changes to the Enterprise Act 2002 (as it will be amended by second set of draft regulations) to clarify scope of exceptions to foreign state intervention regime, and to ensure overall regime works more effectively. Follows May 2025,…
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Germany – BaFin Sets Fine for Substantial Shareholding , Voting Rights Notification Failure
On 13 June 2025, GE BaFin issued €600,000 voting right notification fine. GE BaFin announced it had imposed two fines totalling €600,000 on Innovestica Holdings Inc., in a decision dated 6 June 2024, for voting rights notification violations. The obligation to notify voting rights serves to promotes capital market transparency and strengthens investor confidence in…
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India – SEBI Acquisition / Takeover Related Reports
On 20 March 2025, IND SEBI enabled online filing for two acquisition / takeover reports. IND SEBI introduced online filing system for reports filed under regulation 10(7) of SEBI (substantial acquisition of shares and takeovers) regulations, 2011. Follows IND SEBI February 2023 issued master circular on procedures, formats. IND SEBI Intermediary Portal IND SEBI explained…
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Saudi Arabia – MCI Actual Beneficiary Rules
On 24 February 2025, SAU MCI approved Actual Beneficiary rules by Ministerial Decision. Raise corporate transparency, build database to record, store beneficial owner data. Real beneficiary is natural person owning at least 25% of company’s capital, directly or indirectly, control at least 25% of total voting rights in company, directly or indirectly. Strengthened confidentiality of…
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