U.K. regulator seeks to reduce reporting burden, barrier to short activity
Regulator proposes broad prohibition on trading in connection with offerings
Budget boosts penalties, SRO powers, short selling rules
Activism focused on increased M&A activity is expected in 2025
Firms pay US$45 million to settle trade reporting, recordkeeping violations
SRO proposes mandatory close-out requirements that aim to prevent failed trades, align with U.S. regime
Hedge fund traded on information about firm's pending block trades
OSC failed to prove any of its allegations against dealer, investment banker
OSC asked to review OM exemption, beneficial ownership registry being examined
Info was used to enter into short sale transactions without Stifel's knowledge