Regulatory Alerts2020-04-15
ESMA Opinion on the Proposed Renewal of the HCMC Emergency Short Selling Ban
The European Securities and Markets Authority (ESMA) issued this opinion on 15 April 2020 regarding the Hellenic Capital Markets Commission's (HCMC) request to renew its emergency ban on short selling. ESMA determined that the measure is necessary, appropriate, and proportionate to address serious threats to market confidence and financial stability in Greece caused by the COVID-19 pandemic. The authority approved the extension of the ban, which prohibits entering into short positions on Athens Stock Exchange shares, from 25 April 2020 until 18 May 2020.
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