Tag Archives: short selling

Canada – CIRO Releases Enforcement Report

On 16 July 2024, CIRO released its annual 2023-2024 enforcement report. CIRO released its 2023-2024 Enforcement Report, underscoring its commitment to investor protection, improving industry standards, and strengthening market integrity. Case Highlights Fortrade Canada fined $2mn for making prohibited recommendations. As order execution dealer, Fortrade violated regulations by providing recommendations. Also failed to maintain a…
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China – CSRC Suspends Securities Lending

On 10 July 2024, the China Securities Regulatory Commission (CSRC) approved the suspension of refinancing of securities lending (used as part of short selling). Background: Securities Lending is when brokers borrow shares on behalf of their clients to initiate short selling. Existing refinancing contracts can be rolled over, but no later than 30 September. Effective…
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E.U. – ESMA Guidelines on Short Selling Exemption

On 8 July 2024, EU ESMA published updated compliance table re guidelines on short-selling. Denmark, Germany, Spain, France, Ireland, Italy, and Sweden each comply with the majority of the short selling guidelines, and each jurisdiction sets out the rationale for this. The remainder of the EU member states and the EEA and EFTA states all…
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S Korea – FSC, FSS, Fines for Several IBs for Illegal Short Selling

On 3 July 2024, SK FSC, SK FSS fined global IBs total of KRW 27.173mn. SK FSC, SK FSS said Securities and Futures Commission had decided to impose fines totaling KRW 27.173 against two former Credit Suisse affiliated investment banks. Follows SK FSS May 2024 discovered illegal short selling in 9 global IBs. Overview of…
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Reminder: Thailand Amended Short Selling Regulations Effective 1 July

On 24 June 2024, the Stock Exchange of Thailand (SET) announced short selling and program trading regulations commencing on 01 July 2024. These amended regulations include: Qualifications of securities eligible for short selling: the minimum 3-month average market capitalization requirement for the non-SET100 securities will be raised to THB 7.50 billion. Additionally, 12-month average monthly…
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S Korea – FSC, FSS Unfair Trade Response

On 24June 2024, SK FSC, SK FSS held unfair trade investigation meeting. Follows SK FSC June 2024 approved its organizational restructuring. Key Points Discussed measures to strengthen inter-institutional cooperation according to the increase in SK FSC's investigation personnel, diversify disciplinary means for unfair trades and strengthen punishment, as well as improve investigation efficiency. SK FSC…
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