On 22 November 2023, UK Treasury published Government response to short selling regulation: consultation – sovereign debt and credit default swaps.

• Sets out UK GVT's final policy position for regulation of short selling of sovereign debt and CDS, and summarizes the responses received to consultation on 11 July 2023.
• Specifies UK GVT's approach to aspects of regime under UK’s new short selling regime.
• UK GVT will remove requirements currently placed on investors when taking out short positions in sovereign debt or CDS, and related reporting requirements.
• It will retain sovereign debt and CDS in scope of UK FCA’s emergency intervention powers for short selling, which will be treated the same as other financial instruments.
• As part of 10 retained powers, UK FCA required to set out approach to using powers.
• UK GVT considers this should provide the market with greater upfront clarity on UK FCA’s use of its emergency powers; UK FCA will consult on approach in due course.
• On same day, UK Treasury published Short selling regulations 2024 policy note and draft statutory instrument to replace the EU-inherited SSR.