SEC Imposes Over $3.8 Million in Penalties for Violations of Shareholder Disclosure Rules

SEC Imposes Over $3.8 Million in Penalties for Violations of Shareholder Disclosure Rules

Regulatory Insights, Shareholder Disclosures, Uncategorised

On September 25, 2024, the Securities and Exchange Commission (SEC) announced settled charges against 23 entities and individuals for failing to timely report their holdings and transactions in public company stocks. This enforcement action, focused on Schedules 13D, 13G, and Forms 3, 4, and 5, underscores the SEC’s commitment to enforcing shareholder disclosure rules and maintaining transparency in financial markets.

Among the entities penalised are some of the largest and most recognisable names in the corporate world, including Alphabet and Goldman Sachs. The total fines levied amount to more than $3.8 million.

New FSC Updates for Shareholders in Bulgaria

Bulgaria: FSC Updates Significant Shareholding Notification Form and Submission Process

Regulatory Insights, Shareholder Disclosures

As of September 12th, 2024, the Financial Supervision Commission (FSC) in Bulgaria has introduced important updates to the Significant Shareholding Notification Form (as per Article 145). This form is a legal requirement for shareholders who cross specific thresholds – 5% or multiples of 5% – of voting rights in publicly traded companies on regulated markets.

These recent changes reflect the FSC’s ongoing efforts to streamline reporting processes and ensure greater clarity and transparency for market participants. Let’s break down the key updates and explore how they affect shareholders.

New CSSF Online Portal for Luxembourg Major Shareholding Notifications Social Share Image

New CSSF Online Portal for Luxembourg Major Shareholding Notifications

Regulatory Insights, Shareholder Disclosures

Last month the CSSF announced the launch of the eRIIS, its new online portal for those subject to major shareholder notifications under Articles 11(2) and 18(2) of the Transparency Law. The eRIIS is already live and can be used for filings and replaces the current CSSF filing process via email for the major shareholding disclosures. With this in mind, we thought we would highlight some of the key questions regarding the new reporting portal:

Japan’s FEFTA Pre-Notification Requirements FAQs

Japan’s FEFTA Pre-Notification Requirements FAQs

Regulatory Insights, Shareholder Disclosures

In 2020, Japan tightened foreign investment rules with the amendments to the Foreign Exchange and Foreign Trade Act (FEFTA). When the amendment entered into force on 7th June 2020, it expanded the scope of foreign investment reviews, lowered the threshold for screening the purchase of listed companies’ shares to acquisitions at 1 percent or more, and introduced a new prior notification exemption scheme for share acquisitions.