The Securities and Exchange Commission (SEC) is ushering in a new era of transparency with the introduction of Rule 13f-2, a significant amendment to the Securities Exchange Act of 1934. Effective from 2nd January, 2025, this rule is set to enhance the visibility of short selling activities by requiring institutional investment managers to report detailed…
On 21 December 2021, the Irish Takeover Panel released a public consultation paper seeking comments on proposed amendments to the Irish Takeover Panel Act 1997, Takeover Rules 2013 and the Substantial Acquisition Rules 2007. Submissions closed on 28 February 2022.
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:
On 25th February 2022, the Securities and Exchange Commission (SEC) announced proposals that would provide greater transparency to investors and regulators by increasing the public availability of short sale related data.
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.
