Regulatory Alerts2023-12-14
AFM Market Watch 10 - Substantial holdings and gross short positions
The Dutch Authority for the Financial Markets (AFM) issued this Market Watch to clarify the notification obligations for substantial shareholdings and gross short positions under the European Transparency Directive. The document details the AFM's supervisory approach, including the use of data sources to detect unreported positions and the enforcement of administrative fines for non-compliance. It further examines specific cases like the Exor-Philips transaction to illustrate threshold methodologies and outlines upcoming enhancements to the public register and integration with the European Single Access Point.
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