Regulatory Alerts2012-10-25
Agreement of 18 October 2012 by the National Securities Market Commission extending the precautionary prohibition on short selling of Spanish shares and initiating notification to ESMA
The Spanish National Securities Market Commission (CNMV) extends the precautionary prohibition on establishing or increasing net short positions in Spanish shares until 31 October 2012 to maintain financial stability during the ongoing banking restructuring process. The CNMV also initiates procedures to notify the European Securities and Markets Authority (ESMA) of its intention to impose short-selling restrictions under Regulation (EU) No 236/2012 starting 1 November 2012 for a period of three months. These measures aim to address exceptional circumstances and uncertainties affecting the Spanish financial system while ensuring market integrity.
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