FSA Announces Approach to Transposing EU Short Selling Regulation


On August 16, the UK Financial Services Authority (FSA) published Issue 42 of its Market Watch Newsletter in which it set out its proposed approach to transposing the EU Short Selling Regulation (EU236/2012) (the Regulation) which comes into effect on November 1.

The EU Regulation will have direct effect under UK and other EU national laws with no general need for implementing measures in domestic legislation. However, certain FSA action is required.

The FSA confirmed that it will consult on:

  • the manner in which the current UK short position disclosure regime will be superseded by the Regulation; 
  • application of the FSA penalties regime to breaches relating to the Regulation; 
  • a framework for the FSA’s powers under the Regulation to suspend, prohibit or restrict short selling and other transactions following any significant price decline; and 
  • developing web-based solutions for the public and private notifications required to be made to the FSA as UK Competent Authority under the Regulation.

Read more.


Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.