CCPA | Central Counterparty Austria’s Post

AFMA is pleased with this result and acknowledges ASIC’s work in dealing with the issues raised by AFMA. This is an important outcome for Australia’s financial markets. #financialmarkets #regulation 

What do the proposed new UK prospectus rules mean for issuers of structured products? In our latest briefing, we have explained all… https://lnkd.in/e4EWvYWr

SEBI : PROPOSES INCLUSION OF SUMMARY PROCEEDINGS IN INTERMEDIARY RULES, FOR HANDLING VIOLATIONS MORE EFFICIENTLY   SEBI floats Consultation Paper proposing legal changes in the Intermediary Regulations, for inclusion of the provisions for summary proceedings to handle cases of certain violations of securities laws by Intermediaries, in a faster and more efficient manner, seeks public comments by August 6, 2024; Apprises that Summary proceedings were earlier part of Chapter III of the erstwhile SEBI (Procedure of Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, however, with the promulgation of the Intermediaries Regulations in 2008, the said regulations were repealed in May 2008; States that there are certain cases where violations are obvious in nature or are either accepted by the Intermediary or need minimal documents or evidence to corroborate the facts, and in such cases, ordinary procedures under Chapter V of the Intermediaries Regulations, may be time-consuming, inefficient, non-uniform and cumbersome, even for the intermediaries; Therefore, suggests that the proposed provisions of the summary proceedings shall include the provisions for identifying the cases for summary proceedings and provisions detailing the summary procedure; Further, enumerates 8 types of cases to which summary proceedings shall apply, including expulsion of an intermediary as a member by stock exchange(s) or clearing corporation(s), termination of depository agreements, non-payment of specified fees, and cases where intermediary has admitted the violation; Under the summary procedure, posits that an intermediary shall be provided 21 days from the date of receiving notice, to provide its submission through a written response, and the competent authority shall pass an appropriate order of cancellation or suspension of the certificate of registration of the intermediary or any other order, as deemed fit.

Capital Market and Securities Laws updates: Master Circular for Listed Companies (April 29, 2024) NSE has been issuing various circulars/guidelines to Listed companies on various requirements. In order to enable the Listed Companies to have access to the applicable circulars at one place and to facilitate Listed Companies to comply with the regulatory requirements, the Exchange has prepared a Master circular for Listed Companies. This Master Circular is a compilation of relevant and updated circulars/guidelines issued by the NSE as on April 29, 2024, and which are operational as on date of this circular. With the issuance of this Master Circular, the circulars/guidelines contained in the circulars listed out in the respective annexures to this Master Circular shall stand rescinded. For market details: https://lnkd.in/gPZpVY9i

Capital Market and Securities Laws Update: Guidelines for returning of draft offer document and its resubmission (February 06, 2024) In order to ensure completeness of the offer document for investors and provide greater clarity & consistency in the disclosures and for timely processing, SEBI has issued ‘Guidelines for returning of draft offer document and its resubmission’. It was observed by the SEBI that at times, draft offer documents / draft letter of offer filed with the Board for public issue / rights issue of securities (hereinafter “draft offer document”) are found lacking in compliance with respect to instructions provided under Schedule VI of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 Such documents require revisions/changes and thus lead to a longer processing time. Accordingly, the draft offer document shall be scrutinized based on the broad guidelines and such documents which are not compliant with the instructions provided under Schedule VI of ICDR Regulations and guidelines provided hereunder, shall be returned to the issuer. For details: https://lnkd.in/grWVy66z

Capital Market and Securities Laws Update: Guidelines for returning of draft offer document and its resubmission (February 06, 2024) In order to ensure completeness of the offer document for investors and provide greater clarity & consistency in the disclosures and for timely processing, SEBI has issued ‘Guidelines for returning of draft offer document and its resubmission’. It was observed by the SEBI that at times, draft offer documents / draft letter of offer filed with the Board for public issue / rights issue of securities (hereinafter “draft offer document”) are found lacking in compliance with respect to instructions provided under Schedule VI of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 Such documents require revisions/changes and thus lead to a longer processing time. Accordingly, the draft offer document shall be scrutinized based on the broad guidelines and such documents which are not compliant with the instructions provided under Schedule VI of ICDR Regulations and guidelines provided hereunder, shall be returned to the issuer. For details: https://lnkd.in/grWVy66z

Item 404 of Regulation S-K sets forth the related party disclosure obligations for domestic companies that must be included in various periodic reports and registration statements under the Securities Exchange Act and in registration statements under the Securities Act. Foreign private issuers can comply with Item 404 by providing the information required by Item 7.B of Form 20-F plus any additional information required by its home jurisdiction. #SecuritiesLawBlog #SEC #ALCLAW

Item 404 of Regulation S-K sets forth the related party disclosure obligations for domestic companies that must be included in various periodic reports and registration statements under the Securities Exchange Act and in registration statements under the Securities Act. Foreign private issuers can comply with Item 404 by providing the information required by Item 7.B of Form 20-F plus any additional information required by its home jurisdiction. #SecuritiesLawBlog #SEC #ALCLAW

Item 404 of Regulation S-K sets forth the related party disclosure obligations for domestic companies that must be included in various periodic reports and registration statements under the Securities Exchange Act and in registration statements under the Securities Act. Foreign private issuers can comply with Item 404 by providing the information required by Item 7.B of Form 20-F plus any additional information required by its home jurisdiction. #SecuritiesLawBlog #SEC #ALCLAW

The UK Takeover Panel has published a proposal to narrow the scope of the entities that are subject to the UK Takeover Code. The aim is to focus only on regulating UK listed companies, which is the Panel's primary remit, rather than the current (wider) list of entities subject to the Code. In the Panel's words, the current jurisdictional rules are "complex and opaque and it is not always clear to market participants, or even to the company itself, whether the Code applies to a company". Clearly, in the regulator's view, a case of broke and worth fixing.