On 11th November 2020, the UK Government introduced the long-awaited National Security and Investment Bill in the House of Commons. The Bill provides the government with new powers to screen investments, and aims at tightening the rules governing foreign investment across Britain’s critical infrastructure and parts of its defence industries.
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.
Yesterday, the Financial Conduct Authority (FCA) fined a Hong Kong hedge fund just over £870,000 for failing to disclosure its net short position in Premier Oil Plc. This is the first time the FCA has taken enforcement action for a breach of the SSR.