Regulatory Alerts2020-04-15
ESMA Opinion on AMF Emergency Measure under the Short Selling Regulation
The European Securities and Markets Authority (ESMA) issued an opinion on 15 April 2020 approving the French Autorité des marchés financiers (AMF) proposal to renew its emergency short-selling ban. The measure prohibits entering into short selling and transactions increasing net short positions on shares traded on French venues from 17 April to 18 May 2020 to address threats to market confidence caused by the COVID-19 pandemic. ESMA deemed the one-month extension appropriate and proportionate, citing continued market volatility, information asymmetry, and risks to financial stability in France.
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