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  • ASIC Remakes 'Sunsetting' Class Orders About Internet Offers, Hawking And PDS Obligations

    Date 07/03/2017

    ASIC has remade two legislative instruments, and repealed one, that were due to expire ('sunset') in April 2017.

  • SIFMA Issues 2018 Recommendations For Full And Early Holiday Closes In Japan

    Date 07/03/2017

    SIFMA today confirmed its 2018 holiday recommendations for the trading of US dollar-denominated fixed-income securities in Japan.

  • Council of Institutional Investors: Dual-Class Race To The Bottom Accelerates

    Date 06/03/2017

    Snap Chair of the Board Michael Lynton, in a letter to CII, defended the company’s offering of no-vote shares to public investors in its IPO. Lynton was responding to a letter from CII and 18 investors that objected to the zero-vote shares. Lynton noted that the founders and top executives already have super-voting rights.  Lynton said the board concluded “it would benefit our stockholders to extend this control beyond the IPO” because the dual-class structure “prolongs our ability to remain a founder-led company,” which “will maximize our ability to create stockholder value.” In Asia, meanwhile, exchanges are rethinking their longstanding opposition to dual class shares. On February 16, the Singapore Exchange (SGX), launched a consultation on permitting dual-class share structures. A proposal by the Hong Kong Exchange to permit dual class was shot down by its regulator in 2015, but HKE’s CEO Charles Li in January suggested the topic be revisited.

  • Deutsche Börse: Unscheduled Free Float Adjustment Of GfK SE In SDAX - Changes To Be Effective As Of 9 March 2017

    Date 06/03/2017

    On Monday, Deutsche Börse announced an unscheduled change to the SDAX index. Due to the acquisition of GfK SE by Acceleratio Capital N.V., the free float of GfK SE changed again by more than 10 percentage points. According to the Guide to the Equity Indices of Deutsche Börse AG, the company’s free float will be adjusted in the index from the current 24.22 percent to 14.15 percent. The free float of GfK SE has already been adjusted as of 20 February 2017.

  • Ontario Securities Commission Seeks Applications For Investor Advisory Panel

    Date 06/03/2017

    The Ontario Securities Commission (OSC) is inviting applications for membership on its Investor Advisory Panel (IAP), which provides an investor perspective on the policy- and rule-making processes of the OSC.