Wed, Apr 22, 2020
On April 15, 2020 the European Securities and Markets Authority (ESMA) issued positive opinions on the proposed extension of existing short selling bans by a number of National Competent Authorities (NCAs). The bans will be extended until May 18, 2020 and will come into force on:
The current ban imposed by the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) is already in force until June 18, 2020 so it did not require an extension.
The ESMA also notes in its announcement that the:
The measures do not apply to:
Firms should note that this exclusion has been harmonized across the above NCAs which, in their initial bans issued in March, applied different weight thresholds to their index and basket exclusions.
The ESMA’s announcement, which contains links to the individual opinions, can be found here.
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