The EU Short Selling Regulation comes into force

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Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps (the “EU Short Selling Regulation”) – as well as a Commission Implementing Regulation and three Commission Delegated Regulations – came into force on 1 November 2012. These instruments are directly applicable in Member States and do not require any implementation into national law.

The EU Short Selling Regulation applies, broadly speaking, in respect of shares admitted to trading on EU trading venues, sovereign debt issued by EU sovereign issuers and related credit default swaps. It does not matter where a person entering into a short sale in these instruments is located. Therefore, firms in third countries could be affected by the EU Short Selling Regulation.

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