On 4 June 2021, FINRA requested comment on short selling reporting changes. FINRA requested comment on potential enhancements to short selling reporting program. Proposed enhancements to its short interest position reporting rules. Short Sale Reporting Proposal Modifications proposed to FINRA short interest reporting requirements, to consolidate publication of short interest data reported to FINRA for…
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Australia – ASIC Activist Short Selling
On 1 June 2021, AST ASIC published guide on activist short selling. AST ASIC published information sheet on outlining the practice of activist short selling campaigns and its expectations to promote market integrity during such campaigns. Activist Short Selling Involves taking a short position in a financial product, and then publicly disseminating information that might…
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E.U. – ESMA Recommends Making .1% Short Selling Threshold Permanent
On 20 May 2021, ESMA recommended to the European Commission (EC) to permanently maintain the .1% threshold (temporarily implemented due to pandemic) to notify net short positions on shares to national competent authorities (NCAs). ESMA's press release is available here.
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Sweden – FI Issues Fine for Failure to Report Short Selling
On 14 May2021, SWE FI ordered Unwrap Finance Nordic to pay SEK 25mn. Unwrap Finance Nordic received fine for failure to submit short selling notifications. Compliance Failure Failure to notify SWE FI that the company's net short position in shares in ArcAroma AB had reached or fallen below the relevant thresholds for notification on 57…
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Rulefinder Reports Temporary Short Selling Ban
On 14 May 2021, Rulefinder reported a temporary short selling ban effective 17 May.
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Sweden – FI Fines for Late Short Selling Disclosure
On 23 April 2021, the Swedish regulator, Finansinspektionen fined Renaissance Technologies LLC SEK 1,000,000. Renaissance was late in reporting the company's net short position in shares in Oriflame Holding AG. Short positions had, on 47 occasions reached or fallen below the relevant notification thresholds.
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