The new EU short selling regime will come into force on 1 November 2012, with the existing UK rules on short selling being abolished at the same time. We described the new EU regime in this post.
On 13 September 2012 ESMA, the EU securities and markets regulator, published a set of Q&As “to promote common supervisory approaches and practices amongst the EU’s national securities markets regulators on the requirements of the short selling regulation once it comes into force on 1 November 2012″. The Q&As can be read here and the accompanying ESMA press release is here.
The Q&As cover issues related to:
• territorial scope;
• transparency requirements;
• calculation of net short positions;
• uncovered short sales;
• and the enforcement regime.
On 17 September 2012 ESMA also published a consultation on exemptions for market making activities and primary market operations under the short selling regulation; see here.
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