Regulatory Alerts2023-02-14
Regulatory Bylaw No. 10 on Disclosure of Material Shareholdings
The Capital Markets Authority issued Regulatory Bylaw No. 10 to mandate the disclosure of material shareholdings exceeding 10% in listed companies. The regulation imposes strict reporting obligations on investors, listed companies, and the Depository Center to notify the Authority and the Market of initial holdings and any subsequent changes of one percentage point. Non-compliance with these disclosure requirements and timelines is subject to penalties under Capital Markets Law No. 74 of 2004.
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