Short-selling

The Short Selling Regulation (SSR) requires that firms notify the regulator – or disclose to the market – if they hold short positions over a certain threshold. Naked short-selling of shares is effectively banned, as is the sale of ‘naked’ Credit Default Swaps related to sovereign debt (i.e. where these are held other than the purposes of hedging). Finally, the Regulations harmonise the powers available to national regulators to restrict short selling in certain circumstances, and also provide ESMA with controversial emergency powers allowing them to act in Member States directly.

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Status:

The Short Selling Regulation (SSR) (263/2012) in force and effective (since 1 November 2012).

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