SEC Propose Amendments to Schedule 13D & G Reporting On the 10th February 2022, the Securities and Exchange Commission (SEC) announced proposals amending the rules governing beneficial ownership reporting under Exchange Act Sections 13(d) and 13(g). The proposed amendments to Regulation 13D-G would: Accelerate the filing deadlines for Schedules 13D and 13G beneficial ownership reports;…
Due to increased volatility on the financial markets in 2020 triggered by the COVID-19 pandemic, ESMA decided to temporarily lower the reporting threshold of 0.2 % to 0.1 %, effective from 16 March 2020. The temporarily lowered reporting threshold of 0.1 % was effective until 19 March 2021, after which the reporting threshold was set back to 0.2 %.
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.
The Chairman of the Securities and Exchange Commission (SEC) recently gave a speech at London City Week. During the speech, he discussed three key areas on the reform agenda at the SEC. One of those areas was on transparency, and in particular, the area of beneficial ownership and Schedule 13D reporting.
Investment Managers need to ensure they have in place appropriate systems and procedures to ensure they meet the Hong Kong Short Selling Reporting obligations of the funds that they manage.
