Hong Kong regulator Securities and Futures Commission (SFC) issues fine for failure to ensure short position reports (SPRs) under the Securities and Futures Short Position Reporting Rules (SPR Rules).
Due to the adverse effects of the COVID-19 pandemic, ESMA has renewed its decision requiring net short position holders to report positions of 0.1% and above.
For many working in regulatory compliance, there’s barely a chance to stay on top of the need to file the next disclosure, let alone time to review the process.
In response to the COVID-19 pandemic, there have been a number of regulatory changes. This includes several short selling bans and a lowering of Italy's substantial shareholding disclosure threshold from 3% to 1%.
When calculating short selling exposure to determine reportable positions in Hong Kong, rates change daily, so keeping on top of the official values each time exposure is calculated is a challenge for any manual process.
Monetary Authority of Singapore updates Guidelines on the Regulation of Short Selling, section 321 of the Securities and Futures Act (Cap. 289)
Across the globe, every country with a stock exchange has some form of major shareholding (US: beneficial ownership) disclosure regulation.
Further to our blog post back in March on Korean short selling, the FSC, Korea’s Financial Services Commission, is planning further updates to the short selling regimes to be implemented this year, including increasing possible fines.
Iceland has confirmed its decision to incorporate the regulation into national law through a financial circular.
After the 27th of March 2017, stocks with a sudden and abnormal increase of short selling over a trading day will be designated as “overheated short-selling stocks”, subject to restrictions on trading.
With effect from 15 March 2017, the Securities and Futures Commission is expanding the existing short position reporting requirements in Hong Kong.