Banned13 Mar 2020 07:56
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Friday 13 March, 2020
Financial Conduct
Temporary Prohibition of Short Selling
RNS Number : 0225G
Financial Conduct Authority
13 March 2020
NOTICE OF TEMPORARY PROHIBITION OF SHORT SELLING
13 March 2020
The Financial Conduct Authority ("FCA") notifies that it temporarily prohibits short selling in the following instruments and transactions under Articles 23 (1) and 26 (4) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012.
Nature of measure:
a) short sale prohibition for shares
Scope:
a) Please see Annex 1 below for the instruments concerned
b) all UK trading venues on which the instruments are traded
c) any person irrespective of their country of residence (subject to the exemption below)
Entry into force of the measure and duration:
a) Date: 13 March 2020
b) Time: Immediately
c) Duration: Until the end of the trading day on 13 March 2020
Reasons for imposing measure and evidence:
Following the action taken by Comisión Nacional del Mercado de Valores (CNMV) in the instruments below, the FCA is satisfied that it is necessary to take the action set out in this notice to assist CNMV, taking into account:
a) a similar price fall in the instruments on UK trading venues
b) the volume of trading in the UK
Exemptions to the measure:
This measure does not extend to transactions undertaken by market makers who have notified the FCA of their intention to employ the market maker exemption in this financial instrument and who are included on the list maintained by ESMA of market makers permitted to use the exemption. This exception only extends to those transactions that market makers undertake as part of their market making activities.
Annex 1
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