On 22 February 2019, UK FCA issued bulletin of guidance on no-deal Brexit. Advised market makers, issuers of new regulatory obligations in case of no-deal. In respect of short selling regulation (SSR) and market abuse regulation (MAR).Key PointsExpect firms to undertake reasonable steps to comply with changes by exit day.Government made market abuse (amendment) (EU…
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U.K. – FCA Issues Temporary Short Selling Ban
On 18 February 2019, the FCA issued a temporary short sale ban notice.
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Italy – Further Update on Short Selling Ban
On 11 January 2019, Italy CB announced the ECB administration of Banca Carige spa.
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Italy – Extended Short Selling Ban
On 2 January 2018, Consob continued to suspend Banca Carige trade on markets.
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South Africa – FSCA Short Selling, LEIs
On 4 December 2018, RSA FSCA released discussion papers on short sales/LEIs. FSCA issued the following two discussions papers for comment by 15 January 2019. Short Sale Reporting In response to the finding in the 2014 IMF Financial Sector Assessment Program that South Africa did not have a reporting framework in place for short sales.FSCA…
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Hong Kong – SFC Issues Fine for Short Selling
On 6 December 2018, The Securities and Futures Commission (SFC) has reprimanded and fined SFM HK Management Limited (SFM) HK$1.5 million for failures relating to the short selling of Great Wall Motor Company Limited (Great Wall) shares in 2015 on behalf of a fund it managed.
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