E.U. – ESMA Updated FAQs on Short Selling Regulations

E.U. – ESMA Updated FAQs on Short Selling Regulations

On 21 September 2023, ESMA issued FAQ on notifications of short selling.

  • Document dated 21 September 2023, was received on 26 October 2023 due to a new feed.
  • ESMA issued answer on transparency of net short positions under the Short selling regulation (SSR Reg 236/2012), about positions existing before application of the SSR.
  • The question and answer was published previously as Q5.3 in ESMA's document containing questions and answers on the short selling regulation, which was last updated 14 November 2018.


  • In member states where a national transparency regime was already in place before application of short selling regulation, do holders of short positions already notified to relevant competent authority have to make new notifications or disclosures according to the EU regime.
  • If so, how should the position date field in the notification or disclosure form be filled in if the threshold has been crossed before the entry into application of the short selling regulation.


  • Yes, holders of such short positions must make new notifications, applies to existing notifiable/disclosable positions obtained before 1 November 2012, and any created after.
  • Position date field in form for notification/disclosure should be filled in with either 1 November 2012 or 2 November 2012, depending on trading calendar of the relevant member state.
  • ESMA refers readers to another question and answer for further information.