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…
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.
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.
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.
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.
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.
February saw a number of developments on a range of areas, including: SFDR; Potential money market fund reforms in the US; The new UK short selling threshold entering into force; The PRIIPs RTS being submitted to the European Commission; and Revisions to the CSSF notification form for NAV calculation errors.