AUSTRIA: Notice of expiry of domestic Austria short selling measures on 1 July 2013

Friday June 21 2013

The Austrian Financial Market Authority has issued a press release on the existing domestic regime in respect of Austria short selling.

On 16th April 2012, Austria notified the European Commission of its intention to continue to apply its existing domestic regime under the grandfathering provisions of Article 46 of the EU Short Selling Regulation. Article 46 of the Regulation stipulates that national measures that are currently in force, and have been in force since before 15 September 2010, and that fall within the remit of the regulation, may remain applicable until 1 July 2013.

The Austrian Financial Market Authority has today announced that as of 1 July 2013, the provisions of the FMA Short Selling SAR Regulation (SSV) will no longer be applicable.

Under these national measures, Austrian credit institutions and investment firms are obliged to report their customer’s sell orders to the FMA in cases of suspected market abuse. The expiry of these measures will be the final step in the transition to a new single pan-European short selling regime under the EU Short Selling Regulation.

Click on the above link for the FMA press release (German).