On 31 March 2020, HK SFC banned former CEO/RO of China Rise until 29 July 2022. Former RO and ex-head of dealing of China Rise also suspended until 29 October 2020. Disciplinary action follows CEO's earlier convictions in 2017 for illegal short selling. Both had failed to discharge duties as members of China Rise’s senior…
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U.K. – FCA Short-Selling Statement
On 23 March 2020, UK FCA issued statement short-selling in UK Markets. FCA is working with international counterparts in US, EU and elsewhere, so markets can remain open and orderly, and so they can continue to perform their essential role. Despite significant volatility, markets continue to operate in an orderly fashion in UK. UK Ban…
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E.U. Net Short Position Threshold
On 16 March 2020, ESMA issued decision on net short position holders. ESMA issued a decision temporarily requiring holders of net short positions in shares, traded on EU regulated market, to notify NCA if the position reaches or exceeds 0.1%. Lower 0.1% Notification 0.1% is calculated based on issued share capital, after entry into force…
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Malaysia – Suspends Short Selling
On 23 March 2020, MLY BML, MLY SCM suspended short-selling until 30 April 2020. Announced that short-selling will be temporarily suspended until 30 April 2020, as part of measures to mitigate risks arising from heightened volatility, global uncertainties. Applies to intraday short-selling (IDSS) and regulated short-selling (RSS), as well as intraday short-selling by proprietary day…
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Bulgaria – FSC Short Selling re COVID-19
On 17 March 2020, FSC advised of its decision not to ban short-selling. BUL FSC stated it would not ban short-selling in relation to the COVID-19 outbreak. Follows ESMA 16 March 2020 decision on net short position holders. FSC published release re the ESMA decision on new reporting requirement on 16 March. It clarified that…
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Taiwan – FSC Short Sale Rules
On 18 March 2020, TAI FSC introduced restrictions on securities borrowing. Total balance of securities borrowing and margin trading shall not exceed 25% of OTC listed securities or beneficiary units; total securities borrowing shall not exceed 10%. Amount of securities borrowing orders on intraday market must not exceed 10% of the average transaction volume over…
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