Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
UK scraps public disclosure of short selling
Tue, 11th Jul 2023 16:54Thomson Reuters
LONDON, July 11 (Reuters) - The UK government said on Tuesday it would no longer require short sellers to publicly disclose their trades on UK companies.
A short position is a bet that a company's stock price will decline. Under the rule change funds will no longer have to tell the public their individual net short positions on a stock.
While short sellers will still have to report their positions to the regulator, the Financial Conduct Authority (FCA), the threshold at which positions have to be disclosed would increase.
Currently, funds must tell the FCA when they have borrowed 0.1% of a company's outstanding stock in order to short it. Now, that threshold will increase to 0.2% of the stock.
The decision is part of an effort to repeal European Union regulation post Brexit and comes as the government reworks its Financial Services and Markets Act.
The rule change will be implemented by the FCA.
Critics say short sellers hurt companies and exacerbate market volatility, but short sellers and advocates say they act as an important check on public firms.
Jillien Flores, head of global government affairs at the Managed Funds Association, a hedge fund lobby group, said Tuesday's changes should strengthen the UK's competitiveness.
She said the move would "unleash the benefits of short selling, including enhancing market liquidity, promoting price discovery, and exposing corporate fraud." (Reporting by Nell Mackenzie Editing by Dhara Ranasinghe and Mark Potter)
Don't know if anyone has noticed, but the FCA has scrapped short selling disclosure.
Well said Marcus 👍🏻
I think atg raises a very interesting question
Will the eventual sale be an "arranged marriage"?
I think it almost certainly will, at the behest of DSN. HE will decide who gets to lift Zioc's nighty on the big night 😉
Veteran,
I really do sympathise with your frustration (I am just as frustrated as you after holding for 7 long years). However, actions taken in times of anger and frustration tend to be bad ones.
We may be seeing things too simplistically and I suspect Elphick/Trahar are operating within considerable constraints (lot's of moving parts and obligations to adhere to. Also, keeping the license issuers (Congo) sweet). Elphick/Trahar aren't stupid and want what we want - to maximise the payout.
When the deal finally comes, I suspect you will struggle to come to terms with what you'll have lost out on. I know I wouldn't be able to forgive myself.
However, your decision, but I for one will miss your input on this board and wish you well 🙂
Very disappointed with today's reaction and share price drop.
However, I am 100% certain that Zanaga is "in-play" and a buyout is on the way between now and end of year.
By any metric imaginable, it is simply unfeasible that such a gigantic, high grade iron ore deposit will be ignored as the world's big players scramble about for high grade ore to produce green steel.
I'm relaxed, resigned for even more waiting but certain of the eventual outcome.
Sleep easy guys 💰😉💰
After a little consideration, it seems to me that this "partnership" with un-named Chinese entity is a deliberate red herring. Perhaps Zioc are playing "hard to get" with the Saudi's/Vale in order to extract a higher price??
Elphick is a canny operator who won't want to give this away cheaply, after waiting so long.
Is he upping the ante?
None of it makes any sense 🤔
Which means we've all been wrong about Vale and the Saudi's??
Some fantastic detective work going on here.
I'm now thinking that it's preferable we don't get that RNS tomorrow. If there's no 7am RNS I think this starts climbing rather rapidly.
If we DO get it, it all depends on what it contains in addition to the "results".
Good luck getting to sleep tonight. ;-)
Who's going to be there at 7am waiting for that little red dot?
Monday going to be either champagne and fireworks.....or yet more waiting.
One thing is for sure, it's going to happen. Just a case of when.
I know one thing.....
It's gonna be a loooong weekend waiting for Monday morning.
Hmm. Why the delay?
Obligated by close of play today.
Monday is July.
Come on Mr Trahar, Mr Elphick, haven't we waited long enough FFS!
If not now, then when?
WHEN???
This should easily be in the 90s on this news alone.
It's being deliberately held back by MM's.
So.....no RNS today.
That means it will arrive tomorrow, either 7am or 6pm
Well, that's the traders out of the way.
We still wait for life-changing news. Any guesses when we might get the results RNS?
Funniest post of the day extrader!
Technical analysis has zero relevance to a binary bet like Zioc.