Major Shareholdings • Funds-Axis Limited

New CSSF Online Portal for Luxembourg Major Shareholding Notifications

Regulatory Insights, Shareholder DisclosuresBy Trevor Dempster 12 April 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:

EU Short Selling Reporting Threshold Lowered to 0.1%

Regulatory Insights, Shareholder DisclosuresBy Trevor Dempster 13 January 2022

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 %.

Japan’s FEFTA Pre-Notification Requirements FAQs

Regulatory Insights, Shareholder DisclosuresBy Trevor Dempster 3 September 2021

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.

Shorter Schedule 13D Reporting Deadlines may be on the horizon

Regulatory Insights, Shareholder DisclosuresBy Trevor Dempster 7 July 2021

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.

Regulatory Round-up: April 2021

Regulatory Round-upsBy Trevor Dempster 3 May 2021

Welcome to the Funds-Axis Regulation Round Up! Our monthly update highlights the latest developments impacting the investment compliance industry. The past month brought developments on a range of topics, including: UCITS & AIFMD, Fund Liquidity, Major Shareholdings, Short Selling and PRIIPs KID.

Regulatory Round-up: March 2021

Regulatory Round-upsBy Trevor Dempster 6 April 2021

With the end of the first quarter of the year, March brought with it a number of developments on a range of areas, including: UCITS & AIFMD, Money Market Fund Regulation, Liquidity Risk Management, Short Selling, ESG and ELTIF Regulation. See below this month’s regulatory round-up to read about these developments and many more we tracked throughout March.

Money, Money, Money – Swedish Regulator Issues Fines for Major Shareholder Disclosure Failings

Investment Compliance, Regulatory InsightsBy Trevor Dempster 2 March 2021

It’s been a busy couple of months for the Swedish Supervisory Authority (Finansinspektionen) – so far in 2021, they have issued fines totaling SEK 20,390,500 (USD 2,462,174) for shareholder disclosure failings. With fines ranging from SEK 11,000 to SEK 5,100,000, as displayed in the graph below, non-compliance with Swedish disclosure requirements can be a costly affair.

UK 0.1% Short Selling Notification Threshold Here to Stay

Investment Compliance, Regulatory InsightsBy Trevor Dempster 4 February 2021

This week, on the 1st February 2021, the Statutory Instrument (SI) amending the initial notification threshold under Article 5(2) of the Short Selling Regulation (SSR) entered into force. The SI amends the reporting of net short positions to the Financial Conduct Authority (FCA), in relation to the issued share capital of a company that has shares admitted to trading on a trading venue, from 0.2% to 0.1%.

Overhaul of Global Shareholder Disclosure Rules – Part 1

Investment Compliance, Regulatory InsightsBy Trevor Dempster 6 November 2020

In July, the SEC announced proposed amendments to 13F Reporting, to update the reporting threshold for institutional investment managers, as well as a number of other ancillary changes. The major proposed amendment was the increasing of the reporting threshold from $100 million to $3.5 billion.

Tag Archives: Major Shareholdings