Regulatory Alerts2025-05-19
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Ruling on Application to set aside action – MAMCo v SE
The Capital Markets Tribunal declined the Securities and Exchange Commission's application to dismiss the entire appeal by Madison Asset Management Company Limited and Madison Financial Services PLC, but ordered the removal of specific reliefs targeting non-parties. Paragraph 16 of the Notice of Appeal is struck out in its entirety, and paragraph 17 must be amended to remove imputations of unethical conduct against a non-party. The Appellants are required to file and serve the amended Notice of Appeal within fifteen days, after which the Respondent must file its Affidavit in Opposition within seven days. Costs of the application are awarded to the Appellants, and permission to appeal is granted.
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