• UK FCA announced temporary measures for reporting the short selling indicator in transaction reports while considering changes to the UK transaction reporting regime.

Overview

• Transaction reports submitted to the FCA under UK MiFIR must contain designation to identify a short sale; information contained in short selling indicator (RTS 22, field 62).
• UK FCA is in the early stages of considering policy options for the UK MiFIR transaction reporting regime, including, but not limited to, the future of the short selling indicator.
• Questions from firms re the requirement in article 26(7) of UK MiFIR to correct errors and omissions in short selling indicator field and resubmit affected transaction reports.
• Until the future of short selling indicator field is determined (for UK MiFIR transaction reporting regime), it will not take action against firms who do not meet requirements.
• Firms are not expected to notify FCA about issues affecting short selling indicator field through an errors and omissions notification form; position will be kept under review.