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Covering industries with special significance, the FundApps’ sensitive industry rules utilise expert legal information provided by our long-term partner, aosphere.
The service provides complete coverage of sensitive industry restrictions including pre-approval warnings, post notifications for disclosure obligations, and hard stop for limits that cannot be breached.
Companies are mapped using the Global Industry Classification Standard (GICS) and sensitive industry specific legislation from FundApps’ legal and regulatory data provider.
For FundApps’ shareholding disclosure subscribers, no additional data is required beyond GICS mapping.
Step 1: Upload your positions data to our secure, cloud-based platform.
Step 2: The software will analyse your data in a matter of minutes and you will be automatically notified of sensitive industry restrictions, including approvals, disclosures or hard stops.
Step 3: Our simple, built-in filing system allows you to easily organise and submit any necessary disclosures.
Much like Shareholding Disclosure, successful oversight on a regulation of a specific sensitive industry depends on a variety of reliable data points. Through automated checks completed on a daily basis, source file corrections, and crowdsourced information that’s vetted by FundApps, the sensitive industries service will address clients’ concerns surrounding data and workloads.
The sensitive industries rule package consists of three types of rules including Pre-Approval, Hard-Stop, and Threshold-Disclosure, which are applicable to different extents in all jurisdictions covered by FundApps. By accurately mapping companies using GICS codes and conducting a thorough analysis of legal documents provided by our partner, aosphere, our dedicated content team behind the FundApps’ rules engine removes the uncertainties that exist within the sensitive industries.
Designed to protect the interests of the jurisdiction in scope, sensitive industry legislation is riddled with nuances and idiosyncrasies. The FundApps service prioritises the most time sensitive and high-priority actions required by users. Made clear and actionable by our sensitive industries monitoring software, clients can maintain a clear view of regulatory obligations that are both due to the relevant authorities and avoidable. Any questions or concerns can be raised with our in-house client services or legal content team.
Each jurisdiction is responsible for determining its own sensitive industry specific limits, and in doing so, keeps national interests in mind. For example, Greece requires a post-trade notification in media companies at 1% ownership.
2020 saw a significant increase in actioning industry protectionism, most notably in France and Japan.
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This new feature enables users to see how much can be traded before a disclosure has to be filed, or a hard-stop limit has been reached.
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This move comes in an effort to promote foreign direct investment whilst protecting national interest.
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Effective as of April 1 2020, France commissioned Decree No. 2019-1590 and the Order on foreign investments.
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