Regulatory Alerts2012-08-31
BaFin Guidance Notice on Notification of Market Making and Primary Market Operations under Article 17 of the EU Short Selling Regulation
BaFin has issued an updated guidance notice detailing the notification procedure for market makers and primary dealers seeking an exemption from short selling restrictions under Article 17 of the EU Short Selling Regulation. Effective 15 August 2013, entities must submit new notification forms and accompanying Excel inventory lists, while aggregating prior national and EU notifications by 31 August 2013 with express written confirmation. The notice clarifies eligibility criteria for EU and third-country entities, mandates trading venue membership, and specifies reporting requirements for shares, sovereign debt, credit default swaps, and other derivatives.
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