Regulatory Alerts2011-09-30
Agreement of 28 September 2011 of the National Securities Market Commission regarding short positions on Spanish financial sector shares
The Spanish National Securities Market Commission (CNMV) extends the provisional prohibition on establishing or increasing short positions on Spanish financial sector shares until market conditions allow for its removal. This extension, effective until 30 September 2011, ensures coordination with other European supervisors under ESMA and maintains the regulatory measures originally adopted on 11 August 2011. Non-compliance with these precautionary measures is classified as a very serious infringement under Article 99.z) quinquies of the Securities Market Law.
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