Regulatory Alerts2012-02-17
Agreement of 15 February 2012 by the National Securities Market Commission lifting the precautionary prohibition on short positions in Spanish financial sector shares
The Spanish National Securities Market Commission (CNMV) lifts the precautionary prohibition on establishing or increasing short positions in Spanish financial sector shares, effective 16 February 2012. This decision follows a reduction in extreme volatility and instability in European financial markets, driven by EU debt containment measures, ECB liquidity auctions, and Spain's financial sector sanitation decree. The lifting aligns with coordinated actions by European regulators, including France, Italy, and Belgium, who have also ended or are ending similar bans.
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