Flatlander schreef op 22 november 2023 16:24:
With todays announcement of the recapitalization, It is apparent that FSMA will take no action. If they intended to perform a legitimate oversight investigation there would have been some sort of temporary restraining order to keep further actions that muddy the picture from occurring. At this point I don't have any hope for legal action, though I'm pretty sure this was planned by management for years. All I can do is plan on trying to slow down any efforts to list on the US exchanges, I'm guessing that this theft will look for a quick payday in the next year or two. This will either come from listing on a US exchange or through sale to a Danaher or similar company.
In any case the market gets the message that Belgium does not protect investor rights. The EWK (Belgium ETF) is currently trading just over 200 shares whereas the EWZ (Brazil ETF) is trading over 2 million shares. Switzerland a similar sized country is trading about 500X the volume of Belgium. Schwab provides country governance ratings on their platform. Belgium's AA rating needs to be revisited in light of BCART and Nystar others.
FL