Written by Michael Wu
Market regulators in France, Italy, Spain and Belgium, in coordination with the European Securities and Markets Authority (ESMA), have decided to extend their current short selling ban that was enacted on August 11, 2011. A summary of the action taken by each regulator is summarized below.
France. The Autorité Des Marchés Financiers (“AMF”) extended the ban until November 11, but will determine whether to lift the ban by the end of September. The AMF press release can be found here.
Italy. The Commissione Nazionale per le Società e la Borsa (“Consob”) extended the ban until September 30. The Consob press release can be found here.
Spain. The Comisión Nacional del Mercado de Valores (“CNMV”) also extended the ban until September 30. The CNMV press release can be found here.
Belgium. The Financial Services and Markets Authority (FSMA) is continuing its indefinite ban on short selling.
In addition, Greece’s Hellenic Capital Market Commission (“HCMC”) will reassess before the end of September its current short selling ban that is in effect until October 7. The HCMC press release can be found here.
Other European countries have not implemented a short selling ban.