Although the Disclosure of Interest regime under the SFO has been in place for over 19 years, it is still a minefield for many, in particular for those substantial shareholders, directors, chief executives who are required by law to disclose their interests in a listed company and secretaries, financial controllers or legal counsels who may have to assist in preparing these forms. This course will give a comprehensive overview of the current disclosure of interests regime under the SFO, concentrating on the requirements for directors and shareholders of listed companies.
(Online Via Zoom) Disclosure of Interests: Part XV of the SFO – Essentials for Directors and Shareholders of a Listed Company
Highlights of the course include:
- Who needs to disclose?
- Disclosure obligations of substantial shareholders, directors and chief executives
- What are “deemed interests”?
- Family interests
- Controlled corporations
- Associated corporations
- Concert parties
- What needs to be disclosed?
- What is an “interest” in shares?
- Short positions & stock lending
- Derivatives interests and underlying shares
- How about H Shares or non-voting shares?
- When do you need to disclose?
- What is change in the nature of an interest?
- De minimis exceptions and other exemptions
- Forms and the Disclosure of Interests Online (DION) System effective 3 July 2017
- Investigations by listed companies of shareholders
- Listed company to keep Registers
- Breach of Part XV and potential liabilities
- Practical worked examples
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