Action Center

Notifications on enforcement actions

For purposes of clarification, this release explains The International Financial Oversight Committee notification mandate about enforcement actions. During inquiries and examinations, IFOC has been requested to provide notifications regarding enforcement action. For instance, IFOC is requested if it will advise the subject of the examination of the proposed action before it submits the issue under examination to enforcement agencies or decides on an alternative resolution. The International Financial Oversight Committee in its mandate is not obliged to give notification about enforcement actions and no such required notification to this effect.

Fabricated and deceptive declarations

This action paper takes up the issue of legitimacy and veracity in takeover declarations and bids. It is intended for various market participants making public declarations bidding on takeovers. The International Financial Oversight Committee looks into these declarations and gauges the accuracy of declarations that are last and final, corrections and updates, and such that are ambiguous and deceptive

Broker implementing acquisitions

The International Financial Oversight Committee considers conceding case-by-case relief from corporate restrictions to provide investment advisor or firm to obtain a large bundle of securities from multiple clients as principal for timely clearance in the course of providing client implementation services. IFOC will only provide relief if it does not determined that the investment advisor or firm has a control resolution. Any relief provided will be subject to restrictions developed to confine the investment advisor’s or firm’s capability to put forth jurisdiction over the significant entity and to avoid inventorying.

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