The SLC of the International Bar Association (IBA) has published a summary of the COVID-19 relief measures applicable to public issuers across 41 countries. The objective was to collect the capital-markets specific challenges for public companies globally throughout April 2020 some of which are still on-going.
IBA member law firms from around the globe were invited to participate.
Along with the Co-Chairs and Vice-Chairs of the IBA Securities Law Committee, the project was coordinated by Judit Budai, Senior Partner at Szecskay Attorneys at Law and Vice Chair. Hungarian contributor was Attila Jásdi, Partner of Szecskay Attorneys at Law.
The issues surveyed are:
- Guidance on Covid-19 stability plan disclosure and governance
- Relaxation of reporting and other requirements
- Move towards virtual shareholder/board meetings due to social distancing requirements
- Extensions for certain financial reporting filing deadlines
- Suspension of administrative or judicial proceedings, and
- Security speculation control with short selling ban.
The full document can be accessed here.
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