On 20 April 2026, the Netherlands Authority for the Financial Markets (AFM) imposed an administrative fine of €297,000 on Arrowstreet Capital, Limited Partnership. Background: Arrowstreet acted in violation of short selling regulations between July 2020 and November 2024 Structurally underselling short positions reported and disclosed Failure to disclose short selling in a timely manner Arrowstreet […]
On 15 April 2026, the FCA published a Policy Statement (PS26/5) with final rules for short selling. These will create a new Sourcebook, within the FCA Handbook. The new short selling regime will apply from 13 July 2026. The final rules make changes in the following areas: UK sovereign debt and UK sovereign credit default […]
On 30 March 2026, KRX published first-year results and future plans for NSDS. KRX will continue strengthening market oversight of illegal short selling using insights derived from NSDS operations. It will provide guidance to institutional investors based on cases identified through NSDS to help prevent recurrence. Efforts will be made to reduce unnecessary regulatory burden […]
In March, we conducted a review of the 2025 sanctions imposed on entities for failures to comply with Global Shareholding regimes: Major Shareholding, Short Selling, Takeovers, and Sensitive Industries. Read the full article.
On 26 March 2026, CIRO issued guidance on fully paid securities lending. CIRO published guidance re Dealer Members’ practice of borrowing fully paid, excess margin securities from retail clients; in compliance with CIRO Rule 4600 Part B.2. Follows Feb. 15, 2026, CIRO proposed fully paid securities lending guidance. Fully Paid Securities Guidance Part B.2. of […]
On 20 March 2026, HK SFC announced that an application by the Department of Justice to transfer the securities fraud case to the District Court for criminal proceedings was granted. This marks the first time in which a criminal prosecution for securities fraud involving illegal short selling will be held in the District Court. Bail […]