|Go to market news section|
NOTICE OF TEMPORARY RESTRICTION IN SHORT SELLING
04 July 2013
The Financial Conduct Authority (FCA) notifies that it temporarily restricts 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 on short selling and certain aspects of credit default swaps.
Nature of measure:
a) Short sale prohibition for shares
a) BANCO COMERCIAL PORTUGUES S.A. PTBCP0AM0007;
b) BANCO ESPIRITO SANTO, S.A. PTBES0AM0007;
c) SONAE INDUSTRIA, SGPS, S.A. PTS3P0AM0017
d) All UK trading venues on which the instruments in are traded and
e) Any person irrespective of their country of residence (subject to the exemption below).
Entry into force of the measure and duration:
a) 4 July 2013
c) until 11:59pm on the 4 July 2013
Reasons for imposing measure and evidence:
Following the action taken by Comissao do Mercado de Valores Mobiliarios (CMVM) in relation to BANCO COMERCIAL PORTUGUES S.A., BANCO ESPIRITO SANTO, S.A and SONAE INDUSTRIA, SGPS, S.A. the FCA is satisfied that it is necessary to take the action set out in this notice to assist CMVM taking into account:
the volatility of recent 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 marketmaking activities.
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
|©London Stock Exchange plc. All rights reserved|