Regulation introduces common EU disclosure requirements on short selling and “harmonises the powers that regulators may use in exceptional situations where there is a serious threat to financial stability”
UPDATE 20 April 2012: ESMA publishes final technical advice on delegated acts under the new short selling and credit default swaps regulation here.
UPDATE 26 March 2012: The Regulation has now been published in the Official Journal and the final text is here. The Regulation will apply from 1 November 2012, with some transitional provisions as set out in Articles 46 and 48 of the Regulation.
UPDATE 30 March 2012: ESMA has published draft regulatory and implementing technical standards for the Regulation. ESMA press release here and draft standards here.
The Council of the EU adopted the “Regulation on short selling and certain aspects of credit default swaps” on 21 February 2012. A short summary of the Regulation can be read on the Council’s website here and the Council’s press release is here.
The Regulation will come into force on the day following its publication in the Official Journal and will apply from 1 November 2012.
The European Commission’s website page on the Regulation is here.
See also: ESMA launches a consultation on short selling and CDS, and announces an open hearing on 29 February 2012 – European Securities and Markets Authority
CLLS Company Law Committee response to ESMA consultation paper on short selling – CLLS
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