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Apr 30, 2012

Selling Themselves Short: EU Enacts Regulation Banning Naked Short Sales and Sovereign Debt CDS

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The EU Regulation on Short Selling and Sovereign Credit Default Swaps has now been published, as has the final technical advice. The Regulation creates a harmonised framework for the disclosure of short positions throughout the EU and creates broad powers for the European Securities and Markets Authority to impose emergency restrictions on short selling. It also contains specific provisions to regulate the shorting of sovereign member state obligations. The Regulation will apply from 1 November 2012.

View full memo, "Selling Themselves Short: EU Enacts Regulation Banning Naked Short Sales and Sovereign Debt CDS"

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Pierre-Nicolas Ferrand

Partner

Finance

+33 1 53 89 71 77

+33 1 53 89 71 77

Paris

Tobia Croff

Partner

Capital Markets

+39 02 0064 1509

+39 02 0064 1509

Milan

Bradley K. Sabel

Of Counsel

Financial Institutions Advisory & Financial Regulatory

+1 212 848 8410

+1 212 848 8410

New York

Russell Sacks

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7585

+1 212 848 7585

New York

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

Charles Gittleman

Of Counsel

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7317

+1 212 848 7317

New York

Ellerina Teo

Associate

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5070

+44 20 7655 5070

London