• ICL CB reported regulation (Reg 1235/2024) that changes threshold for reporting significant net short positions in equities that are admitted to trading on a venue.
• Follows EC July 2021, draft delegated act on notification threshold.

Threshold Change

• Limit was 0.2%, but after change it is 0.1% of issued share capital of the company.
• Based on the amendment of regulation 641/2017 on the entry into force of EU regulations on short selling and debt insurance, which makes certain changes.
• Art. 1, a new paragraph is added to the regulation as per Reg 2022/27 of 27 September 2021 on amendment to Reg 236/2012 re amendment of the relevant thresholds.
• Specifically for the notification of significant net short positions in shares.
• This was included in the EEA agreement by decision of the joint EEA committee 146/2022 from 29 April 2022, and shall apply to Iceland with certain adjustments.
• These adjustments result from protocol 1 on general adjustment to the EEA Agreement, cf. Act on the European Economic Area, 2/1993, which is codified.

Effectiveness

• This regulation is established by authorization in point d of paragraph 1, Art. 13, Act on Short Selling and Debt Insurance, 55/2017, immediately enters into force.