Regulatory Alerts2020-04-16
FMA Regulation on Restricting Short Selling of Certain Financial Instruments in Exceptional Situations
The Austrian Financial Market Authority (FMA) has issued a regulation prohibiting the establishment or increase of net short positions in shares admitted to the Vienna Stock Exchange. The ban applies to both on-exchange and over-the-counter transactions, while explicitly exempting qualifying market-making activities and immaterial indirect positions tied to indices or baskets. Enacted under the urgency provisions of the Stock Exchange Act 2018 and EU Regulation (EU) No. 236/2012, the restriction entered into force in April 2020 and is scheduled to expire at the end of May 2020.
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