| Issue |
Date |
Contact |
|
|
| Commission’s Public Consultation on Short Selling |
12/07/2010 |
COM - DG MARKT |
Position
Summary:
EuropeanIssuers' Response of 9 July to the Commission's Consultation on Short Selling dated 14 June EuropeanIssuers is in favour of European legislation on short selling and stresses that: - legislation on short selling should also serve as a means to assist issuers to understand investors’ views of their company’s performance
- the scope of disclosure should be based on the two-tier model, covering all shares admitted in an EEA regulated market and also positions obtained through the use of derivatives
- disclosure of EU shares should be made to the regulator at a lower level and to the market at a higher level.
- There is support for strengthening the buy-in procedures applying to shares and bonds and requiring compulsory borrowing agreements for short-sales
- there should be a common understanding of market making across the EU
- an internationally consistent approach whereby ESMA or the national regulators co-operate with international regulators would be desirable
- ESMA should seek to ensure the consistency of measures taken across the EU
Position paper:
 EuropeanIssuers_response_short_selling_20100709.pdf
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