On 3 December 2019, EU ESMA published compliance table re guidelines on short-selling.
On 1 February 2019, ESMA issued guidelines on short selling exemption for market making.
- Criteria to be met for market making exemption, and conditions to assess notification.
- Market maker to be member of venue that trades instrument, conducts market making.
- Qualifying criteria to be considered by authority which received notification of intent.
- Will determine, in the assessment, whether to allow applicant to use exemption or not.
- Notification of intent to use exemption and its content, including notification template.
- Standards that authorities should take into account to assess notifications it receives.
- Defines which authority to be notified, single entry point for entity from 3rd countries.
- Notifications made before guidelines in effect, will be reviewed within 6 months.
- Authorities must notify ESMA whether they comply or intend to comply with guidelines.
- 2 April 2013, ESMA issued guidelines on exemption for market making re short selling.
- Guidelines applicable two months after translations into all EU languages published.
ESMA Compliance Table
- On 19 June 2013, ESMA issued compliance table on use of market making exemption.
- Table indicates country declarations on status of implementation of ESMA guidelines.
- Lists countries declaring that they comply or intend to comply, and those which do not.
- ESMA published explanations from countries that had indicated their non-compliance.
- Not complying: Denmark DFSA, Germany BaFin, France AMF, Sweden FI, UK FCA