EUROPE: ESMA launches further consultation on EU short selling and open hearing

Thursday February 16 2012

Further to the update of14 February, the European Securities and Markets Authority has announced a further consultation on EU short selling and credit default swaps.

The purpose of the consultation is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts concerning the Regulation as listed in the Commission request for advice.

The technical advice concerns, among others, the definition of EU short sales, circumstances where a person will be considered to be holding a share or debt instrument, and the method of calculating a short position.

Responses to the consultation should be submitted online, by 9 March. ESMA will consider the feedback it receives to this consultation and to the open hearing to be held on 29 February 2012 in March 2012 and expects to publish a final report and submission of the draft advice on Delegated Acts to the European Commission by mid-April 2012. Further details about the hearing and how to sign up will be announced shortly.

Click on the above link for more details.