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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Egypt – CB Bank Mergers and Acquisitions
On 2 May 2024, EGY CB issued circular re banks' mergers and acquisitions. EGY CB issued Circular re banks's ownership, mergers, divestures, acquisitions' rules. Document dated 2 May 2024, received from EGY CB 7 May, summarized on 13 May. Overview Applicant for ownership shall submit the application to EGY CB at least 60 days before…
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S Korea – FSS Exercise of Voting Rights
On 15 March 2024, SK FSS held meeting with asset management companies. SK FSS held a meeting with executives from 10 major asset management companies and SK FIA, in order to discuss major issues re their exercise of voting rights. Follows SK FSS April 2023 set up a taskforce to revise voting guides. Meeting SK…
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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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