Draft Short Selling (Amendment) (EU Exit) Regulations 2018

On 9 August 2018, HM Treasury published a further financial services related draft statutory instrument (draft SI) under the European Union (Withdrawal) Act 2018. The draft SI, The Short Selling (Amendment) (EU Exit) Regulations 2018, is intended to ensure that the EU Short Selling Regulation continues to operate effectively in the UK once the UK has left the EU. In particular, the explanatory memorandum to the draft SI states that changes for firms with shares admitted to trading on a UK venue are anticipated to be minimal. The current mechanics for firms submitting relevant notifications for UK instruments to the FCA will be retained and instruments admitted to trading on UK venues will continue to have the same restrictions applied to them. Part 3 of the draft SI corrects deficiencies in retained EU law relating to short selling. These changes include: amending the scope of the regulation to relate to instruments admitted to trading on UK venues and UK sovereign debt only.…

Read more detail on Recent Banking and Finance Law posts –

This entry was posted in Banking and Finance law and tagged , , , , , , . Bookmark the permalink.

Leave a Reply